Apple Delivered The Ultimate Rashomon Earnings Report Last Night
AP
It's the ultimate Rashoman report.
Do you think Tim Cook is mismanaging Apple? Well, revenue was only up 4.6%, and the iPad business was down 16%.
Are you wildly bullish on Apple? Well, the iPhone was up 17%, and was way ahead of expectations. And Apple easily crushed expectations on the top and the bottom line. The stock is up 9% this morning, justifying your bullishness.
Are you the sort of person that thinks Apple's iPhone business is in trouble if doesn't lower prices? Well, on the earnings call, Apple management mentioned the iPhone 4S seven times, and the iPhone 5S zero times. Couple that with the fact that the iPhone's average selling price was down $41 on a quarter-to-quarter basis, the biggest drop ever, and it seems like the low-cost iPhone 4S was driving sales. And that suggests Apple should be lowering prices.
Do you think lowering iPhone prices is a mistake? Well, you're in luck because Apple hasn't lowered prices and it's still selling boatloads of iPhones. You can very easily argue that Apple should just stay the course.
Are you the sort of person that thinks Apple is doomed? You're a silly person, and you'll spin the results how you want.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- From terrace to table: 8 Edible plants you can grow in your home
- India fourth largest military spender globally in 2023: SIPRI report
- New study forecasts high chance of record-breaking heat and humidity in India in the coming months
- Gold plunges ₹1,450 to ₹72,200, silver prices dive by ₹2,300
- Strong domestic demand supporting India's growth: Morgan Stanley