Tech

Apple suffers 1st quarterly sales decline in nearly 4 years

Published

1 year ago

February 3, 2023

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Apple suffers 1st quarterly sales decline in nearly 4 years

Apple on Thursday posted its first quarterly revenue drop in nearly four years after pandemic-driven restrictions on its China factories curtailed sales of the latest iPhone during the holiday season.

The company’s sales of $117 billion for the October-December period represented a 5% decline from the same time in the previous year, a deeper downturn than analysts had projected.

It marks Apple’s first year-over-year decrease in quarterly revenue since the January-March period in 2019 when sales also slipped 5% amid slowing iPhone demand and the fallout of a trade war with China that was being waged by then-President Donald Trump.

Apple’s profit also eroded during the past quarter, even though the Cupertino, California, company remained a pillar of prosperity. Earnings totalled $30 billion, or $1.88 per share, a 13 decrease from the same time in the previous year. Those results also missed a target of $1.94 per share set by analysts polled by FactSet Research.

Investors reacted to the letdown by initially driving down Apple’s stock by nearly 5% in Thursday’s extended trading. But management remarks made during a conference call with analysts raised hopes that Apple’s disappointing performance may have been a mere hiccup, paring the decrease in the company’s shares to less than 1%.

Apple’s rare stumble came against a backdrop of renewed investor optimism about tech’s outlook for this year, helping to spur a 17% increase in the sector’s bellwether Nasdaq composite index so far this year.

But now Wall Street seems likely to reassess things in light of Apple’s latest results and ongoing worries about a potential recession in the wake of rising interest rates aimed at tamping down inflation, said Investing.com analyst Jesse Cohen.

With Google also disclosing a year-over-year quarterly decline in its digital ad sales on Thursday alongside Apple’s disappointing performance, Cohen said it’s clear there are “several challenges the tech sector faces amid the current economic climate of slowing growth and elevated inflation.”

Despite the quarterly downturn in its fortunes. Apple hasn’t signalled any intention to resort to mass layoffs — a stark contrast to its peers in technology. Industry giants Alphabet, Microsoft, Amazon and Meta Platforms have announced plans to jettison more than a combined 50,000 employees as they adjust to revenue slowdowns or downturns caused by people’s lessening dependence on the digital realm as the pandemic has eased.

“We manage for the long term,” Apple CEO Tim Cook told analysts during the conference call. “We invest in innovation and people.”

Cook had tried to brace investors for tougher sledging in late October when he warned of “increasingly difficult economic conditions” heading into the holiday season. Then, just a few days later, Apple cautioned that China’s attempts to clamp down on the spread of COVID were affecting its production lines and would prevent meeting all the demand for the premium iPhone 14 models during the holidays.

That contributed to an 8% decrease in iPhone sales from the previous year to $65.8 billion in the most recent quarter.

Cook indicated Apple’s supply headaches are now over, assuring analysts that “production is now back where we want it to be.”

In another positive sign, Apple also disclosed that it now has more than 2 billion iPhones, iPads, Macs and other devices in active use for the first time. That is likely to help Apple sell more digital subscriptions and ads, helping to fuel long-term revenue growth.

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Tech

WhatsApp to launch file sharing feature without internet

Published

2 days ago

April 25, 2024

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WhatsApp to launch file sharing feature without internet

The messaging app WhatsApp, owned by Meta, is working on a cool new feature to make it easier to share files even when you’re not connected to the internet.

Recent leaks say that pretty soon, you’ll be able to share photos, videos, music, and documents offline.

This new feature is all about letting you share different kinds of files without needing Wi-Fi or data. And don’t worry about security – the files you share will be encrypted, which means they’ll be safe from anyone trying to mess with them.

Screenshots that got leaked from the latest test version of WhatsApp for Android show us what kind of permissions this feature will need. One important thing is that it’ll be able to find other phones nearby that also have this offline file-sharing thing.

For this to work on Android phones, WhatsApp needs a permission that lets it look for other devices using Bluetooth. But if you’re not comfortable with that, you can always turn it off.

Before this, WhatsApp added a feature that lets you pin notes to keep them handy. So, looks like WhatsApp is always coming up with cool stuff to make chatting even better!

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Tech

Flame-throwing robotic dog unleashed for sale in US

Published

2 days ago

April 25, 2024

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Flame-throwing robotic dog unleashed for sale in US

A flame-throwing robotic dog is now available for sale in the US, thanks to an Ohio-based company.

Throwflame first released the contraption last year but recently announced it was back in stock, asking for $9,420 a piece.

The company released a promotional video showing the ARC Flamethrower and saying it can “send streams of fire up to 30 feet with the push of a button.”

The flamethrower is attached to a Go2 Robot Dog manufactured by the China-based Unitree.

Throwflame said on its website the flamethrowers are legal to own and are “federally unregulated,” but are “not even considered a firearm (ironic) by the federal authorities.”

The company released its first flamethrowers in 2015, called the X15, which could send “a stream of flaming fuel or napalm up to 50 feet.”

That prompted a huge media response, questioning its legality. But Throwflame said the device remains “completely unrestricted in 48 states.”

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Tech

US military stage world’s first ever AI controlled warplane

Published

2 days ago

April 25, 2024

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US military stage world's first ever AI controlled warplane

The United States has finally started to seek answers to one of the most asked questions on the planet – who wins between man and machine?

Incredible details have emerged of the world’s first ever AI controlled warplane taking on a human piloted jet in a historic dogfight that saw both aircraft blasting through the sky at speeds of 1,200mph.

The insane test saw an AI powered modified F-16 – dubbed the X-62A – take on the same jet but with a human in the cockpit.

Both powerful jets went “nose-to-nose” as they battled 2,000ft up in the air, say officials.

The tests were conducted by the Defense Advanced Research Projects Agency (DARPA) alongside the US Air Force to learn about just how advanced artificial intelligence really is.

Results of the intense air battles have been kept tightly under wraps but they were done to show how safe and effective autonomous fighter jets could be.

Officials were also intrigued to see how close AI powered military jets are to operating safely in a complex war environment.

In the end, 21 test flights were done for the project taking place between December 2022 and September 2023.

Lt. Col. Maryann Karlen, deputy commandant of the test pilot school, explained how it all worked in a fascinating video on the historic dogfight.

They said: “In September we actually took the X-62 and flew it against a live manned F-16.

“We built up in safety using the manoeuvres – first defensive, then offensive, then high aspect nose-to-nose engagements where we got as close as 2,000 feet at 1,200 miles per hour.”

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