Apple investors focus on iPhone sales for the holiday quarter

28 Oct 2015 | Author: | No comments yet »

Apple partners with AmEx to bring Apple Pay to Singapore, other countries.

Apple posted record sales of its latest iPhones in the first weekend that they hit stores in late September as it included China sales for the first time. (Source:AP) Apple Inc reported higher-than-expected quarterly revenue and profit as sales of iPhones surged 36 percent, driven by the launch of the 6s and 6s Plus models last month. SAN FRANCISCO: Shares of companies that sell semiconductors to Apple Inc got a shot in the arm on Oct 27 after the iPhone maker posted a fiscal fourth-quarter report that pleased Wall Street.SINGAPORE — Apple’s announced partnership with American Express will see its mobile payment and digital wallet service Apple Pay arrive in Singapore next year. Supplying technology to Apple can turn small companies into Wall Street darlings as new versions of the iPhone break quarterly sales records and remain the gold standard in the smartphone industry.

Other “key global markets” include Canada and Australia, where the service will be available later this year, and Spain and Hong Kong, available next year. Apple rang up enough operating cash in the last year to buy 625,000 Tesla Model X cars—nearly one for each person in San Francisco. (I’ll take blue with tan leather interior, please.) The company has given us so many eye-popping numbers that any feat short of Tim Cook colonizing Mars is underwhelming. Introduced last year in the US and July this year in the UK, Apple Pay allows users to connect their credit or debit cards to a mobile wallet. iPhone, iPad or Apple Watch users can then pay at stores where terminals with near field communication (NFC) technology are available. Apple Pay can also be used to pay for items within apps — some of the companies that have integrated the service into their apps include Target, Airbnb, Uber and Amazon.

There hasn’t been news on whether Visa or MasterCard will partner up to facilitate Apple Pay in Singapore, or the other countries listed above, making the international rollout somewhat limited in its scope. The existential question for Apple is whether the company is in another lull before a turbocharge from the iPhone 7 or something else, or whether nonspectacular growth is the new normal.

Shares of Apple and some of its suppliers had fallen on Oct 26 after German mixed signal integrated circuits maker Dialog Semiconductor, which also sells chips used in the iPhone, announced quarterly results that were lower than analysts’ expectations. Apple’s shares, which fell steeply in mid-August as concerns about the company’s business in China hit fever pitch, were trading at $117.75 after the bell. It’s also because the Apple Watch, Apple Music or potential future electric minivans aren’t big enough to pick up the slack right now, and maybe never will.

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