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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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Zilisch to miss Xfinity race in Texas after wreck

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Zilisch to miss Xfinity race in Texas after wreck

FORT WORTH, Texas — Connor Zilisch, the 18-year-old driver already with two NASCAR Xfinity Series race wins, will miss Saturday’s race at Texas because of lower back injuries sustained in a last-lap wreck at Talladega.

Trackhouse Racing said Wednesday that its development driver will return as soon as possible to the No. 88 JR Motorsports Chevrolet. The team didn’t provide any additional details about Zilisch’s injuries.

Cup Series regular Kyle Larson will drive the No. 88 in Texas. After that, the Xfinity Series has a two-week break before racing again May 24 at Charlotte.

Zilisch, sixth in points through the first 11 races, was driving for the win at Talladega Superspeedway when contact on the backstretch sent his car spinning, and head-on into inside wall.

Zilisch won in his Xfinity debut at Watkins Glen last Sept. 14. He added another win this year at Austin, the same weekend that he made his Cup Series debut. He has six top-10 finishes in his 15 Xfinity races.

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23XI, Front Row ask judge to toss NASCAR claim

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23XI, Front Row ask judge to toss NASCAR claim

CHARLOTTE, N.C. — The two teams suing NASCAR asked a judge to dismiss the sanctioning body’s counterclaim in court Wednesday.

In a 20-page filing in district court in North Carolina, 23XI Racing and Front Row Motorsports opposed NASCAR’s motion to amend its original counterclaim. The teams argued that the need to amend the counterclaim further demonstrates the weakness of NASCAR’s arguments, calling them an attempt by NASCAR to distract and shift attention away from its own unlawful, monopolistic actions.

NASCAR’s counterclaim singled out Michael Jordan’s longtime business manager, Curtis Polk. Jordan is co-owner of 23XI Racing.

The legal battle began after more than two years of negotiations on new charter agreements — NASCAR’s equivalent of a franchise model — and the 30-page filing contends that Polk “willfully” violated antitrust laws by orchestrating anticompetitive collective conduct in connection with the most recent charter agreements.

23XI and Front Row were the only two organizations out of 15 that refused to sign the new agreements, which were presented to the teams last September in a take-it-or-leave-it offer a mere 48 hours before the start of NASCAR’s playoffs.

The charters were fought for by the teams ahead of the 2016 season and twice have been extended. The latest extension is for seven years to match the current media rights deal and guarantee 36 of the 40 spots in each week’s field to the teams that hold the charters, as well as other financial incentives. 23XI and Front Row refused to sign and sued, alleging NASCAR and the France family that owns the stock car series are a monopoly.

NASCAR already has lost one round in court in which the two teams have been recognized as chartered organizations for the 2025 season as the legal dispute winds through the courts. NASCAR has also appealed a judge’s rejection of its motion to dismiss the case.

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Logano throws fastball back at Jones: Ever drive?

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Logano throws fastball back at Jones: Ever drive?

CHARLOTTE, N.C. — Joey Logano wondered Tuesday if Baseball Hall of Famer Chipper Jones ever had driven a race car at Talladega after the former Atlanta Braves slugger criticized the NASCAR champion in a series of social media posts.

Jones was defending Austin Cindric, the winner of Sunday’s race at Talladega Superspeedway, after Team Penske teammate Logano unleashed an expletive-laden rant about Cindric around the halfway mark of the race. Logano was furious he did not receive the help he needed from Cindric, which allowed rival Toyota driver Bubba Wallace to win the second stage and earn valuable bonus points.

“Way to go, Austin. Way to go. You dumb f—. Way to f—ing go,” Logano said on his team radio. “What a stupid s—. He just gave it to him. Gave Toyota a stage win. Nice job. Way to go. What a dumbass.”

Jones was angered by Logano’s rant and in six social media posts congratulated Cindric, called Logano selfish and celebrated Logano being disqualified for failing postrace inspection.

“Good teammates are hard to come by, Boss! Remember that one of urs MFed u on national tv, when in all actuality, u did everything possible to keep from wrecking him,” Jones wrote. “Some people are ‘hooray for our team as long as I’m the star’ as every team has them. Hendrick, RCR, JGR, Penske, etc. Sometimes karma is glorious.”

When told of Jones’ comments on a Tuesday appearance of SiriusXM NASCAR Radio’s “The Morning Drive,” Logano said he was unaware of them. Once he was told, Logano asked: “Has Chipper Jones ever driven a race car at Talladega? That would be my first question. I’m pretty certain he hasn’t.”

“That’s like me saying something about baseball. I know nothing about baseball,” Logano said. “That’s like me saying something that he did something in baseball that was wrong. That doesn’t matter.”

“Chipper Jones, he seems like a cool dude, he’s done a lot, right? He’s a pretty popular, good baseball player, but he’s not a race car driver, and I know he wasn’t in the room with us when we set in place the way things are supposed to go.”

Joey Logano on SiriusXM

Logano continued by saying that as a former professional athlete, Jones should understand there was more to the situation than what he saw on television. Jones grew up outside Daytona International Speedway and was once the grand marshal for the Daytona 500.

“Chipper Jones, he seems like a cool dude, he’s done a lot, right? He’s a pretty popular, good baseball player, but he’s not a race car driver, and I know he wasn’t in the room with us when we set in place the way things are supposed to go,” Logano said. “You would think somebody that has been in professional sports and has been in meetings like that would probably take a step back and say, ‘Man, there’s probably more to the story here than what there is.’ I’m surprised it went that way. Maybe he was just bored. I don’t know what his situation is. I tell you I don’t care.”

Logano said he and Cindric cleared the air in Penske’s Monday meeting.

“Austin and I talked about it. We’ve got to move forward. That’s what it is,” he said. “I explained my side. He understood. We move on. There’s no sense in airing our dirty laundry and airing out what the actual rules are because that’s private information that doesn’t need to be out to everybody. But the facts are that what we set in place wasn’t happening and that’s why I got frustrated. Like I said, we talked about it and we moved on.”

Logano did acknowledge that he probably should not have hit the radio button and “spouted off so much.”

“Probably blew up into a little bigger situation than it needed to, but the conversation, either way, needed to happen. Just more people are talking about it now,” he added.

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