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MacDailyNews presents live notes from Apple's Q319 conference call – MacDailyNews



MacDailyNews presents live notes from Apple's Q319 conference call with analysts starting at 5 PM EDT / 2:00 PM PDT today, July 30, 2019.

Apple will deliver live streaming of Q319 performance conference calls using Apple's industry leader QuickTime multimedia software. This stream is best experienced on an iPhone, iPad or iPod touch using Safari on iOS 10 or later; a Mac using Safari on macOS Sierra 10.12 or later; or a PC using Windows 10 and Microsoft Edge. Streaming to Apple TV via AirPlay requires an Apple TV (2nd generation or later) with the latest Apple TV software or TVOS.

The live webcast will begin at 5 pm EDT / 14 pm PDT today here.

The company has quarterly revenues of $ 53.8 billion, the largest June quarter ever an increase of 1

percent from the previous year, and quarterly earnings per diluted share of $ 2.18, down 7 percent. International sales accounted for 59 percent of the quarter's sales.

For Q419, Apple advised revenues between $ 61 and $ 64 billion.

Live notes from Apple's Q319 Conference Call in reverse chronological order: [19659002] • AAPL after hours: $ 217.65 + $ 8.87 (+ 4.25%) @ 18:02 EDT
• End conference call [19659002] • Cook on 5G iPhones: We do not comment on future products; With regard to 5G, most people will tell you that we are in extremely early stages of 5G and even more worldwide. We are very confident in our position.
• Chef: We think Catalyst (iOS for Mac apps) is huge
• Chef: We see good developer interest in virtually everything introduced during WWDC 2019
• Maestri: Apple will continue to invest in marketing and advertising, especially for new services and product launches
• This is why the installed base continues to grow even though iPhone revenue goes down in a 90-day window
• Chef: Installed base does not correlate with 90- days of day due to switches, secondary market and upgrades (people stay on devices longer but they stay in the ecosystem), and new users
• Cook: Installed base is a function of upgrade and the time between upgrades, switches, robustness of secondary market and new users
• Maestri: We feel very good with our iPhone channel inventory for the quarter

• AAPL after hours: $ 217.80 + $ 9.02 (+ 4.32%) @ 17:50 EDT [19659002] St ek on new Mac Pro: We are currently working and investing in continuing to build Mac Pro here in the US
• Cook on US-China commerce: The vast majority of Apple products are kind of done everywhere; it is the nature of a global supply chain; I think it will bear the day

• Chef: We put a lot of effort into things like augmented reality
• Chef: India struck back during the quarter, we returned to growth where we are very happy
• Cook: Wearables are doing very well; we stuck with it when others might not. Apple is in a strong position
• Chef: We have the strongest product portfolio ever with strong products on the way; the pipeline is full
• Cook: iPhone retail and finance business led to retail and online sales growth in June
• Maestri: Apple News + and Apple Channels available right now; new Apple services coming, some of which will have a trial period
• Apple expects to benefit from leverage and cost savings due to favorable component market
• Apple Card launches in August and Apple Arcade and Apple TV + arrive this fall boosting service growth
• Apple confident in raising target paid target to exceed half a billion
• Apple is confident they will double services between 2016 and 2020
• AppleCare hits a all-time record during June
• Apple installation base continues to grow in all major categories, which is very important for the Services business

• AAPL after hours: $ 217.50 + $ 8.72 (+ 4 , 18%) @ 17:35 EDT

• Cook: Apple is pleased with China's progress; there are several things happening [in China] that are quite positive
• Chef: China's government stimulus ("very bold" VAT reduction), trade and growing commitment to growing the Apple ecosystem helped in China
• Q419 guidance includes and estimated nearly $ 1 billion in previous exchange headwinds during the quarter
• Maestri: Apple expects continued strong growth from non-iPhone categories
• Analysts' questions begin

• Apple's board has declared a cash dividend of $ 0.77 per share payable August 15, 2019 to record-breaking shareholders at the close of business August 12, 2019
• Apple provides the following policies for the fourth quarter of fiscal 2019:
– $ 61 billion in revenue and $ 64 billion
– gross margin between 37.5 percent and 38.5 percent
– operating expenses between $ 8.7 billion and $ 8.8 billion dollars
– other revenues / (expenses) of $ 200 million n
– tax rate of about 16.5 percent

• Apple on its way to net cash neutral potion over time
• $ 108 billion in debt
• $ 211 billion in cash and marketable securities on hand

• Apple Business Chat is a dynamic way to support and interact with customers for many businesses
• Maestri: iPhone and iPad are overwhelming choice for bankers worldwide

• 506 total Apple retailers worldwide
• iPhone commerce-in program over 5X larger versus last year
• Wearables revenue accelerated to over $ 5.5 billion, setting a record for June- quarter
• Over half of iPad customers during the quarter were new to iPad
• Mac revenue up 11% YY; Significant Violating Global PC Industry
• Nearly 1000 Best Buy Stores Across the United States Now Authorized to Repair Apple Products
• Apple now has 420+ million paid subscriptions; Apple on track to exceed its target of 500 million subscribers by 2020
• US survey of iPhone of 451 Research: iPhone XR, XS, XS Max user satisfaction = 99%

• Net sales by category:
– iPhone: $ 25,986 billion
– Mac: $ 5,820 billion
– iPad: $ 5,023 billion
– Wearables, Home and Accessories: $ 5,525 billion
– Services: $ 11,455 billion

• Maestri: Apple returned to growth despite significant currency headwinds during the quarter

• Chef: "We have several new products that we can't wait to show you."

• Apple believes customers will love what comes with these new tools
• RealityKit is a new developer framework for virtually lifelike AR
• ARKit 3 uses real-time machine learning on the device
• Important new developer tools debuted at WWDC 2019

• Apple wants to make the user experience more effortless and intuitive across macOS, iOS, iPadOS, watchOS and tvOS
• macOS Catalinas Catalyst will help bring iOS apps to Mac; Apple expects to see a wave of new Mac apps coming as early as autumn
• ECG app expanded to 31 countries and regions around the world with more coming this year
• watchOS 6 is a big step forward for Apple Watch users, with a new App Store directly available from Watch
• tvOS 13 will make the big screen experience even more personal
• iPad gets its own OS, iPadOS. It will take the iPad experience to a whole new level
• Cook: Apple wants to own and control primary technologies that make up their products (Jobs Doctrine)
• Apple has bought Intel's modem business as the 2nd largest in terms of dollars , greatest ever in terms of employees

• Mac ecosystem about to get a big boost with developer tools to bring iOS apps to macOS

• Mac Pro available this fall
• Strong performance from MacBook Pro and MacBook Air
• Mac: Extremely Excited for
• Apple's Wearables business now exceeds 60% of Fortune 500 companies
• Apple Watch sales set a new quarterly record; 75% of customers are new to Apple Watch
• Cook: Apple Card rollout scheduled in August
• Transit integration is an important part of digital wallet
• Apple Pay now in 47 markets worldwide
• Apple Service's new all-time record of $ 11.445 billion
• iPhone installation base reached a new all-time high
• Cook: iPhone results are encouraging, including strong customer response to our in-store trade -in and financing program
• Cook in statement: "These results are promising across all of our geographical segments."
• Wearables + Services is now approaching the size of a Fortune 50 company
• Cook: We are pleased to report a return to growth

• Apple returned over $ 21 billion to shareholders during the quarter, including $ 17 billion through open market repurchases of nearly 88 million Apple shares, and $ 3.6 billion in dividends and equivalents
• Apple's Q319 performance drove a strong upward cash flow ranking of $ 11.6 billion
• International sales accounted for 59 percent of the quarter's revenue.
• Apple posted quarterly earnings per diluted share of $ 2.18, 7 percent
• Apple posted quarterly revenue of $ 53.8 billion, up 1 percent from the prior year
• Apple today announced financials results for the third quarter fiscal 2019 that ended June 29, 2019.

• Statement by the chef: "This was our largest June quarter ever – driven by record revenue from services of all time, accelerating growth from Wearables, strong performance from iPad and Mac and significant improvement in iPhone trends. "
• CEO Cook in statement:" The balance of the 2019 calendar will be an exciting period, with major launches on all our platforms, new services and several new products. "[19659002] • AAPL after hours: $ 217.60 + $ 8.82 (+ 4.22%) @ 16:54 EDT
• AAPL after hours: $ 215.98 + $ 7.20 (+3.45% ) @ 16:48 EDT


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