aapl

Apple surprised Wall Street today with stronger than expected earnings in its second quarter, though the company came up short in its estimates for the next one.

Apple reported earnings of $9.5 billion on $43.6 billion in sales. That was right on target with the $9.5 billion in profit and just barely above the $42.3 billion in sales that Wall Street expected. It was also above Apple's own expectations, which were between $9.23 and $10.23 per share on sales of $41 billion to $43 billion.

By comparison, Apple tallied up a higher $11.… Read more

Apple could make history tomorrow with its biggest second-quarter sales yet, though it's also expected to log its first decline in profit in 10 years.

That's what analysts anticipate in Tuesday's second-quarter earnings report, which will spell out the company's performance through the end of March.

Wall Street is expecting Apple to post earnings of $10.12 per share on sales of $42.6 billion, based on a poll of 48 analysts from Thomson First Call. That's down from earnings of $12.30 per share, and up from the $39.2 billion in sales from … Read more

Apple soon will share what it plans to do with some of the cash on its books, according to a New York-based investment firm.

In an interview earlier today, Gamco Investors CIO Howard Ward told Bloomberg he expects Apple to make a cash-related announcement by the end of the month. If true, it would be the second such plan detailed by the company in two years.

Apple did not immediately respond to a request for comment on Ward's claims.

Apple's cash pile has grown in step with the breakout success of the iPhone and iPad, its top two … Read more

Apple this month quietly implemented a new rule that requires its top executives and board members to hold onto company stock, worth various multiples of what their salary pays.

The new requirement, which was detailed on Apple's Web site (PDF) and reported by The Wall Street Journal, aims to keep executives from selling off stock and tie their own performance with that of the company. It comes just a day after shareholders shot down a policy that would require company executives to hold onto at least 33 percent of their stock until reaching the age of retirement.

The policy … Read more

CUPERTINO, Calif. -- Apple CEO Tim Cook tried to reassure shareholders today, saying that the company was disappointed by its falling stock price but also that Apple is committed to its long-term strategy.

The meeting itself, which took place here this morning, was business as usual.

As expected, shareholders voted to re-elect all eight of Apple's board members. That includes Andrea Jung, Apple's only female board member, who was forced to resign as the chief executive of Avon last year and now serves as a senior adviser for the beauty products company.

The stakes were a bit higher … Read more

At last year's annual shareholders meeting, Apple CEO Tim Cook knocked the idea of splitting Apple's then-soaring stock.

"A stock split isn't so clear to be honest," Cook told investors last February. Apple had charted out how stock splits worked for "many" other companies, Cook explained, and hadn't come up with a clear answer on what to do. "There might be a short-term pop, but for a lot it does nothing," Cook said.

A lot can change in a year though.

The day before Apple shareholders descend on the company's Cupertino, Calif., campus, … Read more

Apple opens up its doors to shareholders tomorrow, an annual event that's been home to everything from group renditions of "happy birthday" to environmental protesters donning giant iPod costumes.

It's also home to formalities like re-electing board members, choosing Apple's accounting firm, as well as a chance for executives to dodge the inevitable shareholder questions about products the company is working on.

This year is a little different though. Shareholders were set to vote on something that's no longer on the table following a lawsuit filed against Apple earlier this month.

Greenlight Capital, a … Read more

Apple's cash problem is easy to solve, one of its most outspoken shareholders said today.

During a conference call with Apple investors today, David Einhorn of Greenlight Capital -- which is currently in litigation with the iPhone and iPad maker -- made the case that Apple's strategy to stockpile cash was flawed, and argued that his plan to bring some of that back to investors could be solved with a new program called "iPrefs."

"Many have asked, why not just increase the dividend?" Einhorn said. "This sounds too complicated. It's not complicated. … Read more

SAN FRANCISCO -- Don't tell Apple it can't do something.

That's the message from chief executive Tim Cook, who spent about an hour talking up the company's efforts, and attempting to reassure a room full of Wall Street aficionados that the best was yet to come.

It's like that, Cook explained, because the people at Apple don't see any limits in making its products, or the future of its business.

"It's because of that that Apple's been able to do so many things for so many years, and do things that … Read more