Apple’s Mixed Financial News Indicates They Need To Come Up With A Shiny New Toy
Because the global economy is still somersaulting its way out of the recession, somewhat good news is enough to make people breath a sigh of relief.
Then again, we’re talking about Apple here. The tech giant announced yesterday that net profit for the company was down 18 percent year-over-year in Q2 to $9.55 billion. But sales were up 11 percent to $43.60 billion; 37.4 million iPhones were shipped out, up 6.6 percent; and 19.5 million iPads were shipped out, up 65 percent from the prior year. Even crazier, the company has $145 billion in cash at its disposal. Like, just lying around. I would like some of those dollars.
With its stock price off dramatically, the company has decided to buy back shares and announced an increased dividend for shareholders. That sent the stock price up and up, meaning it’s hovering around the $405 per share mark. That’s down (check out the graph in the next link), but still, wow. Experts and onlookers are saying that these results are a clear indication that the company needs a big, shiny new thing to jump start the excitement again. CEO Tim Cook said we’ll have to wait until the fall for that.
Today, however, that’s exactly what everyone says Apple really needs. New products would give the company a shot in the arm. Fortune notes that Apple has talked about entering new categories. “This (hopefully) suggests something more than a iPhone5S – same form factor with some new tricks,” the article says. ZDNet also takes a closer look at the prospect of new products, software, and services, saying it all sounds “promising.”
In the meantime, Apple will host a Worldwide Developers Conference June 10 through 14. “At this year’s WWDC, there will be more than 1,000 Apple engineers on hand presenting over 100 technical sessions for developers,” writes Mashable. Cost: $1,599 with tickets on sale tomorrow morning.
What new product or service would you like to see Apple come up with?