.... and this was a bad year for Apple, Inc. ....
Link here to a SeekingAlpha contributor, archived.
Summary:
- Apple is now done with their bad FY 2019, and it didn’t end that bad at all with an upside revenue and EPS surprise in Q4
- the year saw Apple transition even further off being the iPhone company, spurred by fast growth in wearables and services and reduced iPhone revenue
- they are still in the middle of the transition, but it is going as well as can possibly be expected considering their headwinds
- Apple performed 3 billion Apple Pay transactions in the quarter, more transactions than PayPal
- wearables now generate more annual revenue than two-thirds of the Fortune 500
- they are getting close to half a billion paid subscriptions. That was 330 million just a year ago
- Apple returned $21 billion to shareholders at a net cost of $4.3 billion to net cash. They borrowed $7 billion for the first time since 2017
- Apple had $1.1 billion in foreign currency headwinds this quarter. Without it: China was slightly up; revenue up 3.6% vs. 1.8%; gross profit up 5.5% vs. 1%; EBT up 4.9%, vs. down 1.8%; net income up 4.7% vs. down 3.1% and EPS of $3.27 instead of $3.03
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