Apple Inc. is poised for continued growth as company earnings continue to be solid. Financial results for the third quarter were issued at the end of June and the company posted revenues of $37.4 billion for the quarter, with a net profit of $7.7 billion. The company’s board of directors declared a cash dividend of $.47 per share of common stock.
This was Apple’s highest growth rate in seven quarters and has company insiders excited about the upcoming releases of the iOS 8 and OS X Yosemite operating systems. What also has the company excited is that they were able to land a large customer in Ford. Ford will be dropping BlackBerry smart phones for iPhones. Ford intends to distribute approximately 9,000 iPhones to its corporate employees over the next two years. Sarah Tatchio, Ford spokesperson, said, “ It (iPhone) meets the overall needs of the employees because it is able to serve both our business needs in a secure way and the needs we have in our personal lives with a single device.”
Apple’s CEO, Tim Cook, spoke about the exciting leap forward for the company’s new Swift programming language. Swift is being developed with the partnership of IBM and is seen as the language to be used for the development of the new iOS and OS X operating systems. Swift will ease the writing of code while eliminating an entire class of unsafe code. It also generates apps that will run extremely fast.
Apple Inc.’s growth is poised to continue throughout the year with the highly anticipated release of the 4.7 inch version of the iPhone 6. The iPhone 6 release is currently scheduled for some time in October. The iOS platform planned for deployment will be a safe and intuitive user interface while driving. It is also being looked at as a means to control lights, doors, thermostats and other connected devices remotely through the Siri product.
There are also rumors that a new seven-inch “phablet” is on the horizon. They are extremely popular in Asia where they have sold as well as tablets. Their popularity is based on the fact that a “phablet” would replace both a smart phone and tablet. It is not inconceivable to ascertain that it could replace a PC as well. It is on the verge of becoming an all in one device.
With the advent of OS X Yosemite just over the horizon, Apple recently updated their MacBook Pro with retina display with faster processors, double the memory and a lower asking price. These products will get faster when OS X Yosemite is released in the fall. People who purchase the MacBook now will get a free upgrade to Yosemite when it is released.
Apple Inc. is poised for continued growth as a variety of products in the pipeline are about to be released. Analyst are also bullish on the company as well. With a series of new products scheduled to be released and the typical launch season rapidly approaching, the company seems primed for another quarter of financial profits. Customers are already beginning to line up in anticipation, as has historically been the case whenever new products are released.
By Hans Benes