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Apple set for biggest revenue jump in two years

Economic Times

Economic Times · 10m ago

Apple set for biggest revenue jump in two years

Apple is set to report its biggest quarterly revenue increase in two years, buoyed by strong iPhone demand, particularly in China. The spotlight will be on the company's commentary regarding its fiscal first quarter, particularly with regards to the success of the iPhone 16 series and Apple Intelligence. Investors are concerned that the slow rollout of Apple Intelligence could delay a highly anticipated sales boost. Despite competition from Huawei and other domestic players in key markets like Europe and China, Apple is expected to announce a 3.8% increase in iPhone sales for the quarter.

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Apple CEO Tim Cook makes $41 million from biggest stock sale in two years

Economic Times

Economic Times · 1y ago

Apple CEO Tim Cook makes $41 million from biggest stock sale in two years

Apple CEO Tim Cook has made $41 million from selling his company's stock, marking his biggest stock sale in the past two years. Cook sold 333,987 shares of Apple stock at a price ranging from $120.93 to $121.26 per share. This comes as Apple's shares have experienced a surge in value, reaching an all-time high recently. Cook still holds over 1.3 million shares of Apple stock, worth approximately $156 million at the current market price.

Apple reports record quarterly revenue in India despite smartphone shipment dip

Economic Times

Economic Times · 1y ago

Apple reports record quarterly revenue in India despite smartphone shipment dip

Apple has reported a new quarterly revenue record in India for Q3 2024, continuing its strong growth in the country. Apple CEO, Tim Cook, stated that they have set revenue records in more than two dozen countries, including India. This comes as smartphone shipments in India fell by 2% YoY in the same quarter. Apple also announced a new global revenue record of $85.8 billion for the June quarter, with strong performance in services and Mac computers. Counterpoint Research expects Apple to rebound in the next quarter in India due to recent price cuts.

Apple supplier Jabil eyes two more India units with $275 million investment

Economic Times

Economic Times · 10m ago

Apple supplier Jabil eyes two more India units with $275 million investment

Apple supplier Jabil is planning to invest $250-275 million in India to build two new manufacturing units over the next few years. Currently, Jabil operates two units in Pune and proposes to set up another unit in Tamil Nadu. The investment comes as Jabil aims to expand its operations in India, which is a rapidly growing market for iPhones. Jabil has been producing plastic casings for Apple AirPods and intends to venture into making plastic casings for chargers, older iPhone models, AirPods, and components for Apple watches and Mac.

Macs give Apple a chunkier India pie

Livemint

Livemint · 1y ago

Macs give Apple a chunkier India pie

Apple has set a new revenue record in India for the ninth consecutive quarter, with its iPhones remaining the biggest seller. However, surprising figures also show a new record for sales of the company's Mac laptops and desktops in the June quarter. Experts suggest Apple's growth in Mac sales is driven by increasing enterprise demand, and estimate that revenues from the Mac portfolio in India grew 67% year-on-year. While iPhones still account for the majority of Apple's India revenue, the growth in Mac sales could help the company further penetrate the Indian market.

Apple to settle trade secrets lawsuit with chip startup Rivos

Startup News FYI

Startup News FYI · 1y ago

Apple to settle trade secrets lawsuit with chip startup Rivos

Apple is set to finalize a settlement with chip startup Rivos, two years after filing a lawsuit for alleged trade secret theft. Earlier this year, Rivos also counter-sued Apple, accusing the tech giant of coercion and interference. The settlement is expected to address the return of confidential information through forensic examination of Rivos' systems. Apple had previously withdrawn a lawsuit against former executive Gerard Williams III, who played a crucial role in the development of Apple Silicon chips.

Apple set to scale up production India, employ 5 lakh people in next 3 years

Livemint

Livemint · 1y ago

Apple set to scale up production India, employ 5 lakh people in next 3 years

Apple is set to expand its production in India and is expected to hire around 500,000 employees from the country over the next three years. The company plans to increase its production by five times to reach about $40 billion in the next four to five years. Apple had a successful year in India, achieving its highest revenue and doubling its iPhone exports from the country. Additionally, Apple is focusing on sustainability by investing in rooftop solar projects to power its offices and stores in India.

Apple India Set To Clock Over INR 70,000 Cr In Revenue

Inc42 · 1y ago

Apple India Set To Clock Over INR 70,000 Cr In Revenue

Apple India is predicted to surpass INR 70,000 Crore in revenue for the fiscal year ending in March, becoming the second electronics brand in the country to achieve this milestone after Samsung. Apple's sales have grown over 40% for two consecutive years. However, the rate of expansion is expected to slow down in the coming years. Apple's market share in India rose from below 2% in FY18 to 6% in March 2023, while Samsung's market share declined from 26% to 20% over the same period. Apple manufactured iPhones worth INR 1 lakh Crore in India in 2023.

Two-wheeler EV registrations rise 7% MoM to breach 81K mark in Jan

Inc42 · 1y ago

Two-wheeler EV registrations rise 7% MoM to breach 81K mark in Jan

Two-wheeler EV registrations in India increased by 7.4% month-on-month (MoM) to reach 81,344 units in January, according to Vahan data. Ola Electric led the market with over 32,000 registrations, followed by TVS Motor with 15,181 units. Ather Energy witnessed the biggest MoM jump with a 41% increase in January registrations. However, companies like Okinawa Autotech and Hero Electric experienced declines in registrations. Overall, India's total EV registrations across vehicle segments grew slightly to 1.43 Lakh in January.

Amazon, Flipkart generate Rs 8,705 crore ad revenue in FY23

Economic Times

Economic Times · 1y ago

Amazon, Flipkart generate Rs 8,705 crore ad revenue in FY23

Amazon and Flipkart, two of the biggest players in India's e-commerce sector, have reportedly generated a combined revenue of Rs 8,705 crore ($1.2 billion) from digital advertising in fiscal year 2022-23. This indicates the growing importance of ad revenue for these platforms as they continue to expand their reach and offerings to the Indian market.

New-Age Tech Stocks Jump On Rally In Broader Market; Menhood, Zaggle Among Biggest Gainers

Inc42 · 1y ago

New-Age Tech Stocks Jump On Rally In Broader Market; Menhood, Zaggle Among Biggest Gainers

Twenty-one out of the 25 new-age tech stocks under Inc42's coverage recorded gains in Wednesday's trade, ranging from 0.16% to 8.85%. The biggest gainer was Menhood, whose shares surged by almost 9%, followed by Zaggle with a jump of nearly 8%. On the other hand, Yudiz was the biggest loser, with its shares ending the day 3% lower at INR 56.85 on the NSE.

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