Macro Trader

Apple CFO: Mac revenue was down nearly 30% year-over-year due to the tough comparison from last year (new MacBook Pro in October 2021), the macro-environment and significant foreign exchange headwinds. iPad sales looked good because the December quarter in the prior year had supply-chain issues, driving that number down in Q1 2022. That created a good comparison for Q1 2023.

Apple CFO: The iPhone install base is at an all-time high in all regions. The base grew by double digits in emerging markets, he says. That includes record switchers in India. Operating expenses were significantly below guidance range “as we took actions to respond to the current macro environment.”.

Apple CFO: Maestri is sticking to the party line, saying that Apple actually grew revenue on a constant currency basis. services faced foreign exchange headwinds but grew 6% to a record anyway. This includes December quarter records for the App Store and AppleCare.

쿡 차례는 끝. 🙋🏻‍♂️

Apple call: Cook says Apple is always looking forward and focused on the next challenge after one of its worst quarterly results ever. He says he is more confident about the future of Apple than he has ever been.

Apple call: Cook says the 8% revenue decline for Wearables, Home and Accessories was due to foreign-exchange headwinds and the macroeconomic environment. Cook says the revenue growth in services topped internal expectations. He says there were records in cloud and payment services. Apple has more than 935 million paid subscriptions, Cook says.

Apple call: Cook says Apple saw revenue growth in Canada, Spain and other smaller markets. He’s now going through why the quarter was down significantly. Cook now says iPhone revenue would have been flat year over year, not a major decline, on a constant currency basis.

Bottom-line: Triple Trouble.

Triple A.

Trippe A.

Triple A 2023's pronounced tech rally is facing a key test amid growing concerns about growth. Amazon and Alphabet both dropped in late trading on mixed results, and pulled down Microsoft. Apple due.

Bye. 🙋🏻‍♂️

땡큐, 매덤. 🙏🏻

Lagarde: The inflation outlook is also more balanced.

Market Reaction: Bonds keep running north. 🥶

Lagarde: Risks to Growth Outlook Have Become More Balanced. The energy shock could fade faster and companies could adapt more quickly.

Lagarde: Price Pressures Remain Strong. Decline in Inflation Rate Mostly Due to Energy.

Lagarde: Confidence Is Increasing. Economy Has Proved More Resilient Than Expected.