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Appleon Thursday gave a sales forecast for the holiday quarter that missed Wall Street expectations, hurt by weak demand for iPads and wearables, sending its shares down 3.5% in after-hours trading.

Chief ExecutiveTimCookinsisted that the company’s new iPhone 15 models were doing well in China, citing a record September quarter for iPhones in the region and seeking to ease Wall Street worries that Apple was losing market share to a resurgent Huawei and other local smartphone sellers.

On a conference call with analysts, Chief Financial Officer Luca Maestri said sales for the current quarter, when Apple typically has its biggest sales of new iPhone models, will be similar to the previous year. Wall Street was expecting a forecast for sales to rise 4.97% to $122.98 billion.

Apple shares, which have risen 37% so far this year, dropped 3.5% after-hours when the company gave the forecast.

Earlier on Thursday, Apple reported quarterly sales and profit beat Wall Street expectations, helped by an uptick in iPhone sales and a $1 billion boost to services revenue that offset large drops in Mac and iPad sales.

But revenue from China dipped 2.5% and Cook said the company’s new high-end handset models – the iPhone 15 Pro and Pro Max devices – are facing supply constraints.

The Cupertino, California, company has navigated a global smartphone slump better than many of its rivals but faces an uneven economic recovery in China, a key market for Apple.

“While we believe investors should breathe a sigh of relief because sales and profits both exceeded expectations, the upside was small and we were concerned to see weak sales from China,” DA Davidson analyst Tom Forte said.

Apple said sales for the fiscal fourth quarter ended Sept. 30 fell roughly 1% to $89.50 billion but beat analyst estimates of $89.28 billion, according to LSEG data. Net income rose about 11%. Profit per share of $1.46 beat analyst expectations of $1.39 per share, according to LSEG.

Apple is facing tougher competition in the smartphone market this year as Huawei TechnologiesLreturns to the field with new phones powered by Chinese-made chips after being all but shut out of the market for several years by US government trade curbs.

Apple’s sales in China fell to $15.08 billion from $15.47 billion in the fourth quarter a year ago. Apple’s Cook said that after accounting for foreign exchange rates, Apple’s business in China grew year-over-year, driven by iPhone sales and services revenue.

“In mainland China, we set a quarterly record for the September quarter for iPhone,” Cook told Reuters. “We had four out of the top five best-selling smartphones in urban China.”

Cook said Apple was “working hard to manufacture more” iPhone 15 Pro and Pro Max devices. “We do believe that later this quarter, we’ll reach a supply-demand balance,” he said.

Several global trends are also playing in Apple’s favor, with forecasters predicting that the smartphone market has bottomed out and may start to recover in 2024.

In the longer term, investors are eying how Apple responds to the boom in generative artificial intelligence in which systems can follow prompts in human-like ways – an area that has attracted billions in spending by Microsoftand Alphabet’sGoogle. Apple has said it is working on the technology and views it as a way to improve a wide range of products.

For now, the iPhone remains Apple’s biggest seller. Sales of the device were $43.81 billion in the fourth quarter, in line with analyst expectations of $43.81 billion, according to LSEG data.

The personal computer market is also expected to fare better in the coming year. Earlier this week,Apple rolled outnew Mac machines.

Still, Mac sales slumped by a third to $7.61 billion and iPad sales declined 10% to $6.44 billion, compared with expectations of $8.63 billion and $6.07 billion, respectively.

Sales in Apple’s wearables segment, which includes the Apple Watch and AirPods, fell 3% to $9.32 billion, short of estimates of $9.43 billion, according to LSEG data.

Apple has faced several quarters of declining sales of Macs and iPads, and the fourth quarter continued that trend.

Sales in Apple’s services segment, which includes Apple TV+ and which recently closed a deal with global soccer superstar Lionel Messi, rose 16% to $22.31 billion, compared with analyst estimates of $21.35 billion.

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Heathrow among major airports hit by delays after cyber attack

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Heathrow among major airports hit by delays after cyber attack

Heathrow was among a number of major airports across Europe hit by delays after a suspected cyber attack that targeted a service provider for check-in and boarding systems.

The “technical issue” affecting Collins Aerospace, which provides check-in and boarding services for various airlines, resulted in 14 flights being cancelled at Brussels Airport on Saturday, and several more being delayed at London Heathrow, Berlin, and Dublin, among others.

‘Very clever cyber attack’ cancels flights in Europe – latest

Passengers have reported being unable to check in online, instead queuing for hours for staff to deal with them manually at desks and departure gates, only to be told their flights are not taking off.

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Helen Steel, 49, left Dorset for Heathrow at 3am to travel home to Oslo, with her cat Thomas – but was “shouted at by staff” who told her she would not be able to fly until Sunday.

Describing the situation as an “absolute nightmare”, she said: “I’ve got an animal here, so I’m very concerned about his welfare.

“I’ve been shouted at twice and I broke down in tears because I was worried about him. None of us have had any information whatsoever. Whenever we ask ground staff, they shout at us.”

Ms Steel says she spent two hours in the queue on the phone to customer service and is now having to find a hotel to stay in overnight.

Sam arrived at Heathrow expecting to drop his girlfriend off for her flight to Rio de Janeiro – but was still at the airport seven hours later.

Sam has been at Heathrow for seven hours after his girlfriend's flight to Rio was cancelled
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Sam has been at Heathrow for seven hours after his girlfriend’s flight to Rio was cancelled

When they arrived, it was “chaos everywhere”, he told Sky News, with “nobody seeming to know what was going on”.

The couple say they were not told about the cyber attack by airport staff, finding out about it online instead.

After queuing for three hours, they made it to the front, only to be told the plane was not taking off, he adds.

“Her flight was at 8.40am and it was held back until 10.15am. At 10.10am they sent everyone away and told them to contact the airline. But there are no representatives for any airlines whatsoever. It’s been a bit of a farce.

“Nobody knew where they were going – and they were sending people left, right, and centre.

“She’s going tomorrow now, but we’ve got to find a hotel, and no one is here to give us any hotel vouchers. They just give you a piece of paper and say ‘you’ve got to pay for it yourself’.”

Passengers wait for news at Heathrow Terminal 4. Pic: PA
Image:
Passengers wait for news at Heathrow Terminal 4. Pic: PA

‘Insane queues’ and ‘skeleton staff’

Passenger Tereza Pultarova waited around 10 hours at Heathrow after she arrived at 4.30am for her flight to Cape Town via Amsterdam.

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Tereza Pultarova had to wait 10 hours at Heathrow

“We were kind of stranded here because KLM wasn’t able to issue us boarding passes digitally, and requested us to collect them at the check-in desk,” she said.

“And then they told us that there is some sort of global issue with the system they’re using for check-in and boarding, and they have to do everything manually. So then they were checking in people at the rate of, like, one person per 10 minutes.

“I’m not exaggerating. It was just insane, the queue wasn’t moving. And then suddenly they said, ‘Oh, the flight will be departing, we’re closing the gate’.

Maria Casey was due to fly to Thailand with Etihad Airways – but had to wait three hours to drop off her luggage at Heathrow, with staff taking between five and 10 minutes to deal with each passenger.

Queues at Heathrow. Pic: PA
Image:
Queues at Heathrow. Pic: PA

“The queues are terrible,” she told Sky News. “It was an absolute skeleton staff. Out of six of the desks there were probably two people”.

A Heathrow spokesperson advised people to arrive no more than three hours early for a flight and apologised for any inconvenience.

It is understood British Airways at Terminal 5 remains unaffected and is operating as normal.

Collins Aerospace said it is working to resolve the issue as soon as possible.

“We have become aware of a cyber-related disruption to our Muse (Multi-User System Environment) software in select airports, the firm said in a statement.

“The impact is limited to electronic customer check-in and baggage drop and can be mitigated with manual check-in operations. We are actively working to resolve the issue and restore full functionality to our customers as quickly as possible.”

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‘Delighted to be free’: Elderly British couple who were detained by Taliban arrive in UK

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'Delighted to be free': Elderly British couple who were detained by Taliban arrive in UK

An elderly British couple who have arrived back in the UK after being detained in a maximum security Taliban prison are “delighted to be free”, their son has told Sky News.

Barbie Reynolds, 76, and her husband Peter, 80, were arrested in February after spending decades in Afghanistan, where they have dual citizenship.

They had been held without charge before being released from detention on Friday and flown to Qatar, where they were reunited with their daughter, before flying back to Heathrow Airport on Saturday.

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Freed couple reunites with daughter

The couple’s son, Jonathan Reynolds, told Sky News: “They’re just delighted to be free… they’re very excited to see their kids and grandkids and great grandkids, people they’ve just been wanting to catch up with and wondered if they’d ever see them again.”

Jonathan, who spoke to his parents from Wyoming in the US in a FaceTime call with some of his siblings, said: “I’ve seen photographs of them in hospital beds getting checked. I’ve seen them having full English breakfasts. So they’re jumping on that.”

Peter Reynolds enjoys breakfast after his release
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Peter Reynolds enjoys breakfast after his release

He described some of the conditions his parents had been kept under in a “big maximum security prison with thousands of inmates”.

“My dad described being handcuffed or chained to other criminals. And, one point he had his chest hairs ripped out,” he said.

More on Afghanistan

“He was hit in the head. And, then they were moved, to more of a safe house.”

Peter Reynolds gets hospital check-up
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Peter Reynolds gets hospital check-up

But Jonathan said his parents retained their British politeness even when calling him from a payphone in the prison yard, with his dad asking: “Is now a good time?”.

“It was totally, ‘Yeah, not too bad. Where’s the queue to get out of here?'”

The UK government advises British nationals not to travel to Afghanistan.

Abdul Qahar Balkhi, a spokesperson at the Taliban government’s foreign ministry, said in a statement posted on X that the couple “violated Afghan law” and were released from prison after a court hearing.

He did not say what law the couple were alleged to have broken.

Sky correspondent Cordelia Lynch was at Kabul Airport as the freed couple arrived and departed.

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Sky’s Cordy Lynch speaks to released couple

Mr Reynolds told her: “We are just very thankful.”

His wife added: “We’ve been treated very well. We’re looking forward to seeing our children.

“We are looking forward to returning to Afghanistan if we can. We are Afghan citizens.”

The couple have lived in Afghanistan for 18 years and run an organisation called Rebuild, which provides education and training programmes.

They have been together since the 1960s and married in the Afghan capital in 1970.

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Forget Tesla hype — Einride begins public L4 autonomous electric semi operations

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Forget Tesla hype — Einride begins public L4 autonomous electric semi operations

While Tesla has struggled to deliver on the hype of its self-driving promises, Einride has been quietly developing a Level 4 self-driving electric truck. Now, that quiet effort is paying off. For the first time, the company is operating a fully autonomous, heavy-duty EV on public roads in Europe.

The Einride Level 4 autonomous HDEV is being operated under a relatively new Belgian regulatory framework, and showcases how Einride (and Europe) might hope to take the lead in advancing autonomous freight technology. Now in service at the Port of Antwerp-Bruges, one of the most complex logistics centers in the world, Einride believes its autonomous trucks can move goods with more efficiency and lower emissions than human-driven, diesel-powered rivals.

“Antwerp is more than a logistical hub,” explains Johan Klaps, an alderman at the port of Antwerp. “(Antwerp) is also a place where the mobility of tomorrow is tested and concretized. Autonomous and sustainable applications such as Einride’s proves that innovation is a driver for competitiveness and economic growth.”

Einride autonomous HDEV


The Einride truck itself is an impressive piece of engineering, fitted with a robust 320 kWh li-ion battery pack that promises more than 650 km (405 miles) of all-electric range, thanks to a combination of slippery aerodynamics, energy-efficient electric drive motors, and (of course) the energy-smart driving tactics employed by its impressive self-driving software.

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Einride says its autonomous driving system (backed by a remote operator, Waymo-style, to help deal with edge cases) processes over 5 million data points per second, using radar and LiDAR to feed AI that generates real-time driving instructions for seamless navigation and freight delivery. And, thanks to its purpose-built, cab-less design and 82,000 lb. GVWR, each electric truck can operate with fewer than one remote operator per vehicle, paving the way for far more cost-efficient and expansive logistics operations without the need for many more operators.

“What we are seeing today in Antwerp perfectly aligns with European ambitions,” says Andrea De Candido, Connected, Cooperative and Automated Mobility (CCAM) DG RTD – European Commission. “(We’re) developing innovative technologies that are efficient, safe, sustainable and scalable. Through pioneering projects like this, we strengthen Europe’s position in future-oriented automated mobility solutions.”

With driver shortages still hitting the industry and electric semi fleets already running across Europe, the Middle East, and even here in the US, it’s only a matter of time before Einride rolls out its autonomous trucks in more markets.

SOURCE | IMAGES: Einride; via LinkedIn.


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