Most of the news this afternoon centers around the announcements made during Apple's Q1 2014 earnings call. Even though investors raced for the smelling salts, not all was doom and gloom. In fact, there was a lot of good news:
- Apple had record quarterly revenues of US$57.6 billion. That includes a profit of $13.1 billion. While the gross margin was down, 63 percent of the quarter's revenue came from international sales.
- Apple sold 51 million iPhones in the quarter, which was roughly 4 million more than in the same quarter last year. The iPhone makes up 57 percent of all mobile web browsing in China and has a 90 percent loyalty rate worldwide. Additionally, 80 percent of all iPhones are running iOS 7.
- Likewise, 26 million iPads were sold, up from 22.9 million.
- And 4.8 million Macs were sold, up from 4.1 million last year.
- However, iPod sales are down 52 percent from last year.
- In the education market, schools in Texas have bought more than 157,000 iPads. There have been 25,000 books created through iBooks Author, and Ohio State University developed more than 70 iTunes U classes over the course of a year.
- Apple Retail Stores generated $7 billion in revenue, with an average of $16.7 million per store.
- Apple currently has $158.8 billion in cash at-hand.
You can read back through this and more data from our Q1 2014 earnings liveblog. What do you think of investors' reactions? Are they overreacting too much again?
Other news from Monday afternoon includes:
Apple executives tell Macworld that iOS and OS X will not be merging. During an interview Thursday, an emphasis was placed on the uniqueness of OS X and how it will always be its own thing.
"To say OS X and iOS should be the same, independent of their purpose? Let's just converge, for the sake of convergence? It's absolutely a nongoal," Apple senior vice president of software engineering Craig Federighi said. "You don't want to say the Mac became less good at being a Mac because someone tried to turn it into iOS. At the same time, you don't want to feel like iOS was designed by one company and Mac was designed by a different company, and they're different for reasons of lack of common vision. We have a common sense of aesthetics, a common set of principles that drive us, and we're building the best products we can for their unique purposes. So you'll see them be the same where that makes sense, and you'll see them be different in those things that are critical to their essence."
- Days after Tim Cook's interview with ABC News that included biting statements about the National Security Agency, Apple has updated its information on account data requests from the government and law enforcement.
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