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Tim Cook wants India to have a larger slice of Apple

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Apple made $34 billion despite slow iPhone sales in first quarter of 2018

Apple has refused to quantify its Apple Watch sales since the wrist-worn device debuted in April 2015.

Cook said the iPhone X was its topseller during the quarter, including in key markets like China. Apple presently has an average rating of "Buy" and an average price target of $203.58. Sales of iPads rose 2% to 9.1 million units compared with the same period a year ago, while Mac sales slipped 3% to 4.07 million. Corundum Group Inc. now owns 2,242 shares of the iPhone maker's stock valued at $346,000 after purchasing an additional 299 shares in the last quarter. Apple had a net margin of 21.13% and a return on equity of 37.37%. Apple will now spend $14.8 billion a year on dividends, the most of any company, Silverblatt said. Apple also increased its dividend by 16 per cent to 73 U.S. cents a share, pushing past Exxon Mobil to become the largest dividend payer, according to S&P Dow Jones Indices.

Investors should also note just how much the high price of the iPhone X has impacted overall iPhone revenues. "Yet volume, which is key to suppliers' financials, is only growing a little", said Arthur Liao, an analyst at Taipei-based Fubon Securities. This is an increase of 1.4 million iPhones sold compared to its second quarter sales of 2017.

Shares of Apple closed Tuesday up 2.3% at $169.10, and the stock was last seen up more than 4% at $176.44 after about an hour of trading on Wednesday at a level that was more or less in line with the initial after-hours reaction on Tuesday.

And Apple's services revenue, which includes iCloud and Apple Music subscriptions and its share of app sales, rose 31 per cent to US$9.2 billion.

The company's net income for the second quarter was Dollars 13.8 billion, up from USD 11 billion a year ago. "I assume Apple can't find a strategic investment at the current prices that will move the needle for them".

Cook said that though Apple's market share is low in many emerging markets, including India, Apple is looking to make iPhone the primary choice of consumers.

Because of that, some predicted the next iPhone, due out in the fall, could start lower than the eye-popping $999 the iPhone X cost previous year. But that storyline, which then gave rise to the idea that Apple had priced the $1,000 iPhone X too high, was wrong, UBS analyst Steven Milunovich noted.

Wall Street normally loves buybacks because they provide persistent demand for stocks while inflating earnings per share.

Cook is under no illusion that the iPhone X didn't sell as well as Apple's own initial expectations, however he did reveal during the earnings call that customers chose the iPhone X over other models "each and every week" during the quarter.

Apple has been sitting on a hoard of cash for quite awhile, and there has been a ton of speculation about how the company would go about doling some of that out to shareholders. Cook also said that the company is planning to put greater energy into the region to accelerate growth. Clearly, iPhone revenues have surged recently, but investors would be much more anxious if these gains more closely matched the much softer iPhone unit growth.

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