Apple iPhone X topped Q1 shipments; News paid for BuzzFeed exclusive

Apple Jan-March revenue up 16% at $61 bn; plans $100 bn buy-back

Apple Jan-March revenue up 16% at $61 bn; plans $100 bn buy-back

Dissipating (and unfounded) fears of slow iPhone X sales and a record March quarter combined with news that Warren Buffet bought 75 million more shares of Apple to push the stock to a record closing high.

"You have to start thinking about Apple differently going forward", Dan Morgan, senior portfolio manager at Synovus Trust Company, wrote in a recent note. Global sales accounted for 65 percent of the quarter's revenue.

Apple expects revenue between $51.5 billion and $53.5 billion in the next quarter. It also reduces the number of shares trading, which increases earnings per share - a key yardstick for measuring a company's value. It makes me suspect that perhaps initial demand for the iPhone X was so high that it made Apple think it would be a somewhat larger percentage of the iPhone product mix overall, so it cranked up iPhone X production.

Apple, which also operates services like Apple Music, the App Store and iCloud, is planning a $30 billion spending in the United States and a second USA campus. Older reports claimed that Apple had slashed production of the iPhone X by half.

Some Asia suppliers did rally after Apple's report, with South Korea's LG Innotek Co. up as much as 7.3 percent. However, that wasn't the case with iPhone sales beating estimates.

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The company did not disclose the value of the settlement but said it would give details in a joint statement . Mr Johnson added that he wishes to "thank Donte and Rashon for their willingness to reconcile".

Synovus's Morgan recently estimated that services will drive about 60 percent of Apple's revenue growth over the next five years. The iPhone is expected to come in two storage variants - 32 GB and 128 GB.

Warren Buffet gave Apple's stock a big boost today when he revealed his company Berkshire Hathaway purchased 75 million shares this year. It gained 2 percent market share worldwide in the quarter, and the firm noted that Xiaomi has become "wildly popular" across India and China. "It's a terrific market and we're proud to be a part of it". All three new iPhones are world's best selling phones and tops the charts. Nearly all the Android smartphones in the list are shipping in the global market which means they are available in all the markets worldwide.

Cook also discussed additional opportunities in health care.

Apple now claims that its phones support fast charging to the tune of 50% in 30 minutes. but only with a lot of money spent on new accessories.

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