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Apple's retail boss Angela Ahrendts will leave the company in April, Apple announced Tuesday.
Deirdre O'Brien, who has worked at Apple for three decades, will take on an expanded role as a senior vice president of Retail + People, Apple said. O'Brien previously held the title of vice president of people, and Apple said she would continue to oversee functions related to that role, including talent development and employee relations.
Ahrendts led Apple's retail and online stores for the past five years but is now leaving "for new personal and professional pursuits," according to Apple.
Ahrendts joined Apple from Burberry, where she served as chief executive. She had been rumored to be a potential CEO successor to Tim Cook, but Ahrendts had called the claims "fake news ... silly" in an interview with BuzzFeed News published in October 2017.
Here is the release:
Apple today announced that Deirdre O'Brien is taking on new responsibilities for Apple's retail and online stores in an expanded role as senior vice president of Retail + People, reporting to CEO Tim Cook. After five transformative years leading the company's retail and online stores, Angela Ahrendts plans to depart Apple in April for new personal and professional pursuits.
In her expanded role, Deirdre will bring her three decades of Apple experience to lead the company's global retail reach, focused on the connection between the customer and the people and processes that serve them. She will continue to lead the People team, overseeing all People-related functions, including talent development and Apple University, recruiting, employee relations and experience, business partnership, benefits, compensation, and inclusion and diversity.
"At Apple, we believe our soul is our people, and Deirdre understands the qualities and strengths of our team better than anyone," said Tim Cook, Apple's CEO. "For more than three decades, she has helped keep Apple focused on serving customers and enriching lives. She's an exceptional leader and she's been a vital partner to our retail teams around the world since the very beginning. I am thrilled to work alongside Deirdre in her new role, and I know our 70,000 retail employees will be, too."
"People come to Apple to do the best work of their lives, and our retail teams show their passion every day, in every interaction, all around the world," said Deirdre O'Brien, senior vice president of Retail + People. "It is the opportunity of a lifetime to work with, and learn from, such a talented, diverse and imaginative team. I am looking forward to this journey, and to continuing the important work of the People team in supporting all of Apple's amazing employees."
Apple today operates 35 online stores and 506 retail stores on five continents, staffed by teams who are dedicated to enriching lives and serving their communities. Every Apple retail store location offers innovative programs for customers, including Today at Apple, designed to unlock creativity, inspire learning and encourage connection.
"I want to thank Angela for inspiring and energizing our teams over the past five years," said Tim Cook. "She has been a positive, transformative force, both for Apple's stores and the communities they serve. We all wish her the very best as she begins a new chapter."
"The last five years have been the most stimulating, challenging and fulfilling of my career. Through the teams' collective efforts, Retail has never been stronger or better positioned to make an even greater contribution for Apple," said Angela Ahrendts, senior vice president of Retail. "I feel there is no better time to pass the baton to Deirdre, one of Apple's strongest executives. I look forward to watching how this amazing team, under her leadership, will continue to change the world one person and one community at a time."
Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch and Apple TV. Apple's four software platforms — iOS, macOS, watchOS and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay and iCloud. Apple's more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it.
Q2 2019 analyst estimates
EPS: $2.36 . . . Would be down from EPS of $2.73 a year ago
Rev: $57.5 billion . . . Would be down from $61.1 billion a year ago
iPhones: $31.1 billion . . . was $38.032 billion (52.217 million units sold) a year ago
Average iPhone selling price: ??? . . . was $728.54 a year ago
iPad: $4.1 billion . . . was $4.113 billion (9.113 million units sold) a year ago
Macs: $5.9 billion . . . was $5.848 billion (4.078 million units sold) a year ago
Services: $11.3 billion . . . was $9.190 billion a year ago
Other: $4.8 billion . . . was $3.954 billion a year ago
Earnings: Analysts surveyed by FactSet expect Apple to report $2.36 in earnings per share, down from $2.73 a year earlier. According to Estimize, the average estimate calls for $2.47 a share.
Revenue: The FactSet consensus calls for $57.5 billion in second-quarter revenue, while the Estimize consensus anticipates $58.3 billion. The company’s own forecast was for $55 billion to $59 billion. Apple reported $61.1 billion in sales a year ago.
Morgan Stanley analyst Katy Huberty expects revenue at the “high end” of management’s outlook, given her view that Apple saw improving China demand throughout the quarter.
Apple’s iPhone sales are expected to total $31.1 billion, iPad sales $4.1 billion, Mac sales $5.9 billion, while software and services revenue is projected at $11.3 billion, and “other” revenue — which includes Apple Watch and accessory sales — is expected to total $4.8 billion, according to analyst estimates compiled by FactSet.
Apple has a tendency to give June-quarter revenue outlooks that are below Wall Street estimates, and Huberty said she expects the company to stick to its spring conservatism again this year. That suggests the company may forecast $50 billion to $52 billion in revenue for the current quarter, which tends to be slow, since the latest crop of iPhones have been out for months and the new lineup looms on the horizon.
The FactSet consensus calls for $52.1 billion in revenue for the June period.
Huberty is more upbeat about the potential for Apple to deliver a small positive surprise with its gross-margin outlook, in part due to lower memory prices. She expects that the company will forecast 37.5% to 38.5% in gross margin, she said, while the FactSet consensus calls for 37.9%. Huberty has an overweight rating and $234 target on the shares.
Apple Stock Will Fall Because of Deteriorating iPhone Shipments, Analyst Predicts
April 29, 2019
Apple shares will likely fall because of deteriorating iPhone shipments in the second-half of 2019, according to Rosenblatt Securities.
The back story. Apple stock (ticker: AAPL) has rallied about 30% this year, as investor sentiment regarding its strategic shift to services has improved. Last month, the company unveiled an array of new paid subscriber services such as Apple TV+ (video), Apple Arcade (gaming), and Apple News+ (news and magazines).
What’s new. Rosenblatt Securities analyst Jun Zhang reaffirmed his Neutral rating for Apple shares on Monday, predicting iPhone shipments will drop later this year.
“We believe risks to the company will be mainly in the second half of this calendar year,” he wrote.
The analyst expects Apple’s iPhone will lose market share in China and Europe. He estimates new iPhone production will drop 5% to 10% year-over-year in the second half of 2019. Zhang also predicts total iPhone shipments will fall over the same period.
Looking ahead. Zhang has a $150 price target for Apple shares, representing 27% downside to its current stock price.
EPS: $2.46 vs $2.36 (FactSet and Refinitiv) estimate . . . down from $2.73 a year ago -- beat Revenue: $58.015 billion vs $57.5 billion (FactSet), $57.37 billion (Refinitiv) estimate . . . down from $61.137 billion a year ago -- beat
iPhones: $31.051 billion vs $31.1 billion (FactSet) and $31.03 billion (Refinitiv) estimate . . . down from was $38.032 billion a year ago -- inline iPad: $4.872 billion vs $4.1 billion (FactSet) estimate . . . up from $4.113 billion a year ago -- beat Macs: $5.513 billion vs $5.9 billion (FactSet) estimate . . . down from $5.848 billion a year ago -- miss Services: $11.450 billion vs $11.3 billion (FactSet) and $11.37 billion (Refinitiv) estimate . . . was $9.190 billion a year ago -- beat Other: $5.129 billion vs $4.8 billion (FactSet) estimate . . . up from $3.954 billion a year ago -- beat
China sales down 21.54% to $10.218 billion vs $13.024 billion a year ago.
Same with Rest of Asia Pacific region (down 8.67% to $3.615 billion from $3.958 billion a year ago) and Europe (down 5.72% to $13.054 billion from $13.846 billion a year ago)
Sales in Americas region up 3.04% to $25.596 billion from $24.841 billion a year ago, and Japan sales up 1.17% to $5.532 billion from $5.468 billion a year ago
Apple is providing the following guidance for its fiscal 2019 third quarter:
revenue between $52.5 billion and $54.5 billion vs analyst estimate for $51.94 billion -- beat
gross margin between 37 percent and 38 percent
operating expenses between $8.7 billion and $8.8 billion
Ive was considered one of the most important people at Apple, and he was responsible for the industrial design and the look and feel of all major Apple products, including the iPhone and the Mac.
He is going to start his own business, called LoveFrom, along with longtime friend and fellow designer Marc Newson, according to the report.
Apple stock dropped 1% on the news.
This is breaking news. Please check back for updates.
Q4 2019 results
EPS: $3.03 (up from $2.91 a year ago) vs $2.84 expected -- beat
Rev: $64.040 billion (up from $62.900 billion a year ago) vs $62.99 billion expected -- beat
iPhone revenue: $33.36 billion vs $32.42 billion expected -- beat
Services: $12.511 billion vs $12.15 billion expected -- beat
Apple is providing the following guidance for its fiscal 2020 first quarter:
.
revenue between $85.5 billion and $89.5 billion . . . ( vs $86.92 billion analyst estimate -- beat ) . . . had revenue of $84.3 billion a year ago
gross margin between 37.5 percent and 38.5 percent
Product sales declined year over year... from $52.301 billion to $51.529 billion, but services revenue increased from $10.599 billion to $12.511 billion.
iPhone revenue fell to $33.362 billion from $36.755 billion a year ago
Mac revenue fell to $6.991 billion from $7.340 billion a year ago
iPad revenue rose to $4.656 billion from $3.983 billion a year ago
Wearables, Home and Accessories saw the biggest jump... revenue rose to $6,520 billion from $4.223 billion a year ago. Apple Watch and AirPods?
Services revenue rose to $12.511 billion from $10.599 billion a year ago
Remember when it was at $146 a year ago and many people thought they were doomed? I hope I wasn’t the only one to buy in back then
As I quoted in the Tesla thread
“it is never wise to bet against a company with a great product”
I must've missed the "doomed" part.
I do remember from a year ago (Q4 2018) when Apple reported a miss vs estimates for iPhone (their main revenue generator) and Software and Services sales, and the year-over-year decline in Mac and iPad sales.
I also remember Apple giving a light Q1 2019 guidance at the time followed by news of Apple cutting iPhone XR production due to possibility of poor sales (which turned out to be true despite you adamantly refusing to believe it). Product sales for Q1 2019 (their holiday season) ended up declined by 7.24% year-over-year, going from $79.164 billion in Q1 2018 to $73.435 billion in Q1 2019. I also remember the big drop (-26.66% year-over-year) in Greater China sales, going from $17.956 billion in Q1 2018 to $13.169 billion in Q1 2019.
Sales declined in every region (Europe, Greater China, and Japan) except for Americas and Rest of Asia Pacific where sales grew by 4.96% and 1.09%, respectively.
With Apple's guidance at the time suggest a slowdown in sales and EPS, why would anyone pay up for AAPL stock? A year ago, you would have been buying AAPL at a forward P/E of around 18.6. If people had sold it at the time and bought back in near the low
Originally Posted by AZuser
$158.14 : -$2.77 (-1.71%)
F it. Added at $158.20.
you would have gotten in at a much better price. I got it at a forward P/E of 13.28, and they're up 56.88% based on today's after-hours price.
The story of how behind that video is interesting. He only invested $2k of his own money, then used that to buy and sell a few AMD calls, and with the margin RobinHood gave him (leveraged 25:1) he bought those AAPL puts and lost it all. It's also a violation of Federal Laws for RH to have allowed him to do this. /r/wallstreetbets is having a field day with this guy, he post history is unsurprisingly toxic.
01-29-2019, 03:55 PM
for retail operations.
?
