Apple Stock News: Apple Reports Fourth Quarter Results
Apple Stock News: Apple reported its Q4 2023 results with $89.5 billion in revenue, a 1% YoY decrease, and $1.46 earnings per share, a 13% YoY increase. Tim Cook highlighted record iPhone and Services revenue, while Luca Maestri emphasized a strong device installed base and financial performance. The company declared a $0.24 per share dividend, payable on November 16, 2023.
M3 Debut and Processor Competition Grows
Apple unveiled its latest custom Mac chips, the M3, M3 Pro, and M3 Max, during its “Scary Fast” event. These 3-nanometer chips pack 2 million transistors into a tiny space, offering improved CPU and GPU performance. The M3 GPUs feature Dynamic Caching for better graphics performance, along with hardware-accelerated ray tracing. The base M3 has 8-core CPU and 10-core GPU, while the M3 Pro and M3 Max offer even higher specs for professional and advanced users. Apple’s chip strategy sets its computers apart and helps optimize performance and battery life. While competitors like Qualcomm and Nvidia are entering the market, Apple’s lead in chip design may persist. Intel faces challenges as competition intensifies.
iPhone 17 to Be Assembled in India
According to Apple analyst Ming-Chi Kuo, production of the standard iPhone 17 will commence in India in the second half of 2025, marking the first time Apple initiates the development of a new iPhone outside of China. Apple’s decision to assemble the iPhone 17 in India is due to its simpler design, reducing manufacturing risk. Apple has been shifting its manufacturing away from China, and it has been manufacturing older iPhones and other devices in India for several years. With Foxconn, Pegatron, and Tata (Wistron’s new owner) as partners, Apple has gradually increased its manufacturing responsibility in India. Kuo predicts that 20 to 25 percent of global iPhone shipments will be produced in India by 2024, strengthening Apple’s presence in a crucial market with growing demand for its products.