Inside Scoop: Mixed results for Apple's Q3Despite lukewarm sales figures, Apple posted a profit for its third quarter. CNET Senior Writer Shara Tibken speaks with Sumi Das about why analysts are more interested in Apple's next quarter.
[MUSIC] Hello and welcome to Inside Scoop. I'm Sumi Das. Joining me is Char Tipton, senior writer for CNET. Char, thanks for being with us.>>I'm happy to be here.>> Okay, so this afternoon you were on a call with Tim Cook. And a few other people, right? Yeah. And Apple reported earnings and you listened in. Tell us, what the state of Apple is. What they're financial state is currently. Yeah, yeah, this is kind of an off quarter for Apple. Their newest products came out late last year so it's kind of getting to the end of the cycle for those. Everyone's looking for the next devices to come out this fall. But you know, they're reporting iPhone sales are still pretty good. You know, iPad is kind of soft which worries people. But in general you know. pretty good quarter. So, typically, or, a common occurrence in the past is that, you know, the numbers have really blown people out of the water. So you're saying that didn't happen this time around. Yeah, I mean, once Tim Cook took over, they kinda changed, changed that strategy. You know, Steve Jobs used to give forecasts that they would just, like, completely obliterate. So now they try to kind of be a little more accurate, so you can really judge a little better. Got it. But also, there's just a lot of. Factors going on, you know, that are, that are impacting these results. And everybody's looking to next quarter because we're expecting some major announcements, right? Yeah, yeah, you know, towards the end of next quarter which will end in September, we're expecting, you know, one, if not two, new i phones. You know, later on. You know, new iPads, other new devices. People are hoping for an iWatch. You know, when that happens is unclear. Right. But you know, everybody is definitely looking for later this year. You mentioned the iWatch. We know that a patent was filed recently by Apple. Was there any information we can glean from that filing? Yeah. I mean, it, it's interesting to see what Apple's doing. I think in this one, they're looking in doing things like putting. The, putting a lot more intelligence in the band itself as opposed to in the display. Hm. So you could, like, take the display off, and the band will still work. Hm. You know, whether they do any of this is- Yeah. Something we won't know until they actually announce the product. Right. Know, companies file for patents all the time that they end up not actually- Using. Using, yeah. So, you know, we're gonna have to wait and see what we actually get. But you know it's interesting to see what they're trying. And everybody's eagerly awaiting on that, arent' they? Yeah. Tell us a little bit about the calling itself? I mean, most of us haven't listened in on one of these calls before. How do they flow? Cook get's on the call, he answers questions at some point, right? Yeah, I mean they're pretty standard with what other companies do. So it kinda starts out with. Tim Cook on the call. He gives a sort of introduction like this is what's happening at Apple, everything's great, we're an amazing company, blah, blah blah. [LAUGH] you know, the CFO gets on and walks through kind of nitty-gritty financials which can get dry sometimes. Yeah. Lots of numbers. Yeah. And then they open it up to analysts who can call in and ask questions. Any notable questions from the analysts? You know, people were interested in the partnership with IBM. You know, kind of what that means. Right. You know, what's happening iPot, iPad, sorry. Because it's been, it's been weak for two quarters now. So people are trying to understand what's actually happening. You know, people always ask about new products and what the guidance means for things coming out later this year. But we never get details about that kind of stuff. [LAUGH] Told us to hold on and wait. Alright, Shara. Thanks for filling us in on the earnings column that took place today. From Inside Scoop, I'm Sumi Das. Thanks for watching.