US Nasdaq stock report - Apple
Apple falls 0.9% from 14-day high January 19, 2018 16:00 EST
NEWS BITES - NORTH AMERICA
Apple Inc. (NASDAQ:AAPL), the NASDAQ's largest Computer integrated systems company by market cap, was down 0.9% from its 14-day high of $US180.10 on January 19. Its Williams % R is -15.1 which suggests it is overbought, a bearish signal. Its Relative Strength Index [RSI] is 75.9. An RSI reading of between 70 and 100 suggests the stock is close to its 14-day high, which is also a bearish signal. The stock price has decreased 80.0c (0.4%) from its last trading session of January 18 to close at $US178.46. Compared with the NASDAQ-100 Index which rose 22.9 points (0.3%) in the day, the relative price change was -0.8%. The fall was exacerbated by firm volume of 1.2 times the average daily volume of 27 million shares.
Apple (NASDAQ:AAPL) institutional shareholder Lockheed Martin Investment Management Co (CIK:0000897599) bought 103,230 shares in the quarter ended December 31, 2017 worth $US17.6 million at an estimated Volume Weighted Average Price (VWAP) of USD167.94. At the end of the quarter Lockheed Martin Investment Management Co held 280,970 shares worth $US47.2 million.
Apple (NASDAQ:AAPL) institutional shareholder Acadian Asset Management LLC (CIK:0000916542) sold 188,913 shares in the quarter ended December 31, 2017 worth $US32.1 million at an estimated Volume Weighted Average Price (VWAP) of USD167.94. At the end of the quarter Acadian Asset Management LLC held 2,264,478 shares worth $US380.3 million.
APPLE ISSUED 44 NEW PATENTS IN THE WEEK OF JANUARY 16, 2018
Apple (AAPL) has been issued 44 new patents by the USPTO and EPO.
Highlights in today's Report:
SECTION 1 BEARISH SIGNALS
Fundamentals, Technicals, Short Selling and Open Interest, Low Performance Indicators
SECTION 2 BULLISH SIGNALS
Fundamentals, Undervaluation [compared with sector average], Technicals, High Performance Indicators
SECTION 3 PRICE VOLUME DYNAMICS
Technicals, Moving Annual Return, Beta, Turnover Rate & Turnover Period
SECTION 4 RANKING
Global, Independent Ratings
SECTION 5 FINANCIALS
Financials Summary, Trailing 12 Months Dividends
SECTION 6 CORPORATE BONDS
Time [Yrs Mo Days] and Yield to Maturity as on Jan 18, 2018, Key Statistics, Yield Curve - Apple Bond vs US Treasury, Apple Corporate Bonds Maturing in This Quarter
SECTION 7 PROFILE
Activities, Industry & Sector, Top Management, Issued Capital
SECTION 8 REPORTED BUYING AND SELLING
Insider Selling, Institutional Buying and Selling Quarter Ended September 30, Reported Holdings of Institutions as at Sep 30, 2017
SECTION 9 PATENTS
SECTION 10 STOCK BUZZ
Latest Buzz, Litigation, Corporate Wire
SECTION 1 APPLE BEARISH SIGNALS
+ Tobin's Q Ratio, defined as MCap divided by Total Assets, is 2.4. Compared with the rest of the market the stock is overvalued and ranks in the bottom quartile of stocks by value of Q Ratio.
+ The Relative Strength Index (RSI) of 75.9 has penetrated the overbought line of 70, suggesting the price gain of 4.9% in the last 14 days is unusually high.
+ The stock is overbought according to the Williams % R indicator of -15.1, suggesting the price is close to its 14-day high of $US180.10.
+ The Stochastic indicator of 88.3 has broken through the overbought line of 80; this indicates the price is close to its 14-day high and is likely to revert to a downtrend.
1.3 Short Selling and Open Interest:
+ The current short volume equalled its own historical average of 0.1%.
Open Interest Trend
Same day trend: The price decreased 0.4% from $US179.26 to $US178.46; Open interest has lifted 2.8% from 1,342,560 to 1,380,702. A fall in price combined with an increase in open interest suggests there is new money coming into the market from short sellers. This is a bearish signal.
|Duration||Open Interest change %||Price change %||Interpretation|
1.4 Low Performance Indicators:
|Description||Value||Rank In Market|
|P/E * P/NTA||140.89||In Bottom Quartile|
|Price Change %||-0.4||In Bottom Quartile|
SECTION 2 APPLE BULLISH SIGNALS
+ The relative yield of the stock, defined by its yield of 1.4%, divided by average yield of dividend yielding stocks in the NASDAQ-100 Index of 1.0% is 136.6%. This suggests the stock is undervalued in dividend yield terms.
+ Total Liabilities/EBITDA of 3.8 is comfortably below the Joseph Piotroski benchmark of 5.
+ As per the Du Pont analysis, Return on Equity is high at 36.1%. This is computed as net profit margin of 21.1% times asset turnover [sales/assets] of 0.62 times leverage factor [total assets/shareholders' equity] of 2.8. Also, this has improved from 35.6% last year.
|Du Pont Analysis||ROE||Profit Margin||Asset Turnover||Equity Multiplier|
+ Net Profit margin is positive and has seen consecutive rises in recent quarters. [Quarter ended, all figures in %]
|Qtr||Revenue Growth||Net Profit Growth||Net Profit Margin|
2.2 Undervaluation [compared with sector average]:
+ Year-on-Year Earnings Growth of 10.8% [5.9%].
+ Price/Earnings/Growth of 1.5 [3.2].
+ In the last three months the stock has hit a new 52-week high eleven times, pointing to a significant uptrend.
+ The present value of $US1,000 (PV1000) invested one year ago in Apple is $US1,538, comprising a capital gain of $US514 and dividend reinvested of $US25.
+ The present value of USD1,000 (PV1000) invested thirty years ago in Apple is $US145,653, including a capital gain of $US129,386 and dividend reinvested of $US15,266.
+ 30 years Multiplier in USD = 145.653x
+ Compound Annual Growth Rate (CAGR) in USD = 17.9%
2.4 High Performance Indicators:
|Description||Value||Rank In Market|
|Today's Turnover||$US5.6 billion||In Top 1%|
|Return on Assets [ROA] %||12.9||In Top Quartile|
|Return on Capital Employed [ROCE] %||23.3||In Top Quartile|
|Volatility %||1.2||In Top Quartile|
SECTION 3 PRICE VOLUME DYNAMICS
+ Volume: there were 31,301,200 shares worth $US5.6 billion traded today. In the past week, volume was 1.1 times average and the shares were up 0.8%.
+ The Apple is at a discount of 0.9% to its 12-month high of $US180.10 traded on January 18.
3.2 Moving Annual Return
Based on a dynamic start date of 5 years ago, the Moving Annual Return has been positive in 4 of the last 5 years. An investment a year ago in AAPL would have produced a return of 53.5%.
|AAPL||Close (USD)||Dividends (USD)||Capital Gain / (Loss) %||% Yield||Annual Return %|
|1 Yr ago||117.88||2.23||26.1||2.4||28.4|
|2 Yrs ago||93.51||2.03||(6.8)||2||(4.8)|
|3 Yrs ago||100.31||1.85||40.1||2.6||42.6|
|4 Yrs ago||71.62||1.69||10.9||2.6||13.5|
Close 5 years ago $US64.59
+ Beta: the Beta of Apple stock is 1.1. A Beta greater than 1 suggests this is a high risk, high return stock with volatility greater than that of the market.
3.4 Turnover Rate & Turnover Period:
+ The turnover rate in the 12 months to date was 111.2% (or a turnover period of 10 months). This average length of ownership of the stock at 1.3 times the average holding period of 8 months for stocks in the NASDAQ-100 Index suggests a larger number of core investors, making a long-term investment safer.
SECTION 4 RANKING
4.1 Global Rank [out of 47,420 stocks] and Rank in the American Region [out of 12,007 stocks]
|Description||Value||Global Rank||In Am Region|
|Total Assets (US$)||375.3B||205||102|
|Net Profit (US$)||48.4B||3||2|
|Return on Equity %||36.1||1,181||406|
|Net Profit Margin %||21.1||5,452||1,487|
|Price to Book||7.3||29,955||5,150|
|PV$1000 (1Year) US$||1,538||8,920||1,738|
|US$ Change (1Year) %||51.7||8,675||1,722|
4.2 Independent Ratings
+ Top 50 BCG:
Apple Inc. was ranked 1 in Boston Consulting Group's list of Top 50 Most Innovative Companies 2016; unchanged over a year from the same rank 1 in 2015.
+ Citi Top 50:
It was ranked in Citi's Top 50 global cash cows with reinvest-to-payout ratio of 0.28.
+ Clarivate 100:
It is ranked in the Top 100 innovators by Clarivate Analytics.
+ PwC 100:
It was ranked 1 by MCap as at March 31, 2015 by PwC in the Top 100 Global companies; an improvement over 6 years from rank 33 as at March 31, 2009.
+ PwC Top100 Software Leaders:
It is the 28th largest by revenue and largest by MCap among the PwC Global Software Leaders.
+ FT 500:
It is the 13th largest by revenue in the FT Global 500.
+ Fortune 500:
It was ranked 9 by total revenues in the Fortune 500 annual list for 2017; unchanged over a year from the same rank 9 in 2013.
+ Newsweek 500:
It was ranked 26 by Newsweek and Corporate Knights Capital in the World's 500 Greenest Companies 2016. It had outstanding scores of 15% in Carbon productivity, 11.7% in Water productivity and 11.3% in Waste productivity.
+ Industryweek 1000:
It is a new entrant in the Industry Week list of the world's largest 1000 manufacturers by Revenues in 2016, ranked 7.
+ Forbes 2000:
It is the 11th largest by revenue in the Forbes Global 2000.
+ BSS/News Bites:
It is placed 438/2197 in BSS News Bites' ranking of NASDAQ performers in the past year, a percentile ranking of 80.
+ Vanguard Total World Stock ETF 7457:
The stock was one of 7457 global stocks selected by Vanguard Total World Stock ETF (VT). As at November 30, 2017, the Vanguard Total World Stock ETF held 1,426,320 shares worth $US244,786,465 or 1.72% by value of the ETF's portfolio [Ranked 1 out of 7457 by value and 1 out of 672 for NASDAQ].
SECTION 5 APPLE FINANCIALS
5.1 Financials Summary
|Year ended||Sep 2017||Sep 2016||Sep 2015|
|Sales (USD B)||232||217||233.7|
|Pretax (USD B)||64.1||61.4||72.5|
|Net (USD B)||48.4||45.7||53.4|
Net profit was up 5.8% from US$45.7 billion in 2016 to US$48.4 billion in 2017. Earnings Per Share (EPS) was up 10.8% from $US8.31 to $US9.21.
5.2 Trailing 12 Months Dividends
|Trailing 12 Months To||Value ($US)|
|19 Jan 2018||2.46|
|19 Jan 2017||2.23|
|19 Jan 2016||2.03|
|19 Jan 2015||1.85|
|19 Jan 2014||1.69|
SECTION 6 APPLE CORPORATE BONDS
For Company searches and sorting by bonds and variables, an interactive version of current day's Table is available here: click here
6.1 Time [Yrs Mo Days] and Yield to Maturity as on Jan 18, 2018
|CUSIP||Time to Maturity||Yld (%)||Treasury (%)||Spread (%)||YTM Chng 3 Mo (bps)||Moody's||S&P|
|037833CH1||29 yrs 21 d||3.85||2.9||0.94||6||-||-|
|037833AZ3||7 yrs 21 d||3.08||2.55||0.52||44||-||-|
|037833BG4||7 yrs 3 mo 24 d||3.06||2.55||0.51||30||-||-|
|037833AK6||5 yrs 3 mo 14 d||2.82||2.42||0.4||39||Aa1||AA+|
|037833BU3||5 yrs 1 mo 4 d||2.54||2.42||0.12||13||-||-|
|037833BS8||3 yrs 1 mo 4 d||2.48||2.17||0.31||45||-||-|
|037833AR1||3 yrs 3 mo 17 d||2.47||2.17||0.3||39||Aa1||AA+|
|037833CS7||2 yrs 3 mo 22 d||2.3||2.05||0.26||46||-||-|
|037833BD1||2 yrs 3 mo 17 d||2.27||2.05||0.22||35||-||-|
|037833CK4||2 yrs 19 d||2.23||2.05||0.19||45||-||-|
|037833AX8||2 yrs 19 d||2.17||2.05||0.12||41||-||-|
|037833CE8||1 yr 20 d||1.97||1.78||0.19||37||-||-|
|037833CF5||1 yr 20 d||1.82||1.78||0.04||43||-||-|
|037833BN9||1 mo 4 d||1.78||1.28||0.5||45||-||-|
6.2 Key Statistics
|Maturity||Yield to maturity %||Yrs to Maturity||% Rise/Fall 3-mo|
|Feb to May 2018||1.67 to 1.78||0.1 to 0.29||-0.06 to 0.34|
|Feb to Aug 2019||0.81 to 3.04||1.06 to 1.54||-1.7 to 0.76|
|Feb to May 2020||1.4 to 2.3||2.05 to 2.31||-1.01 to -0.77|
|Feb to Aug 2021||1.88 to 2.57||3.1 to 3.55||-1.38 to 0.08|
|Feb to May 2022||1.91 to 2.66||4.06 to 4.32||-1.87 to -1.53|
|Feb to May 2023||2.54 to 2.82||5.1 to 5.29||-1.88 to -0.7|
|Feb to May 2024||2.72 to 2.99||6.06 to 6.31||-2.28 to -0.9|
|Feb to May 2025||3.06 to 3.08||7.06 to 7.32||-2.74 to -2.05|
|Feb to Aug 2026||3.14 to 3.16||8.1 to 8.55||-2.01 to -1.93|
|Feb to May 2027||3.25||9.06 to 9.31||-2.22 to -2.02|
6.3 Yield Curve - Apple Bond vs US Treasury
|Years to Maturity||Apple Bond Yield (%)||Treasury Yield (%)||Spread to Treasury(Basis Points)|
The yield curve is upward sloping which is typical. The term premium between the yield of a 30-year Apple Inc. bond of 3.85% and the yield of a 1 year bond of 1.97% is 1.88%. Further, the yield curve is flattening from a term premium of 1.89% a month ago to a current level of 1.88%. This indicates investor expectations of falling inflation and/or decreasing demand for longer-term bonds. In comparison, the term premium of Treasury is 1.13%, down from 1.15% a month ago.
6.4 Apple Corporate Bonds Maturing in This Quarter
|CUSIP||Days to Mature||Last Price||Yield %||YTM Chng 3 Mo (bps)|
SECTION 7 APPLE PROFILE
Apple Inc.designs, manufactures, and markets personal computers, portable digital music players, and mobile communication devices and sells a variety of related software, services, peripherals, and networking solutions. The Company sells its products worldwide through its online stores, its retail stores, its direct sales force, and third-party wholesalers, resellers, and value-added resellers.
7.2 Industry & Sector
|Classification Level||Name of Sector|
|Industry Group||Computers, Phones & Household Electronics|
|Activity||Computer Hardware - NEC*|
|Business Sector||Technology Equipment|
* NEC: Not elsewhere classified
7.3 Top Management
The chairman is Arthur D. Levinson, the chief executive officer is Timothy D. Cook and the chief financial officer is Luca Maestri.
7.4 Issued Capital
Based on 5,134,312,000 issued shares the market capitalisation is $US916.3 billion.
SECTION 8 REPORTED BUYING AND SELLING
8.1 Insider Selling
January 09: Apple insider sells
Apple (NASDAQ:AAPL) insider Dan Riccio sold 15,641 shares worth $US2,733,800 on January 05. The selling price was $US174.78. The shares hit a 14-day high on the day.
December 11: Apple insider sells
Apple (NASDAQ:AAPL) insider Dan Riccio sold 15,641 shares worth $US2,654,135 on December 07. The selling price was $US169.69.
December 04: Apple insider sells
Apple (NASDAQ:AAPL) insider Eddy Cue sold 65,361 shares worth $US11,215,918 on November 30. The selling price was $US171.60.
November 16: Apple insider sells
Apple (NASDAQ:AAPL) insider Dan Riccio sold 15,641 shares worth $US2,695,802 on November 14. The selling price was $US172.35. The shares hit an eight-day low on the day.
October 10: Apple insider sells
Apple (NASDAQ:AAPL) insider Dan Riccio sold 15,642 shares worth $US2,424,666 on October 05. The selling price was $US155.01. The shares hit a 14-day high on the day.
8.2 Institutional Buying and Selling Quarter Ended September 30
Total reported Institutional buying = 56,588,312 shares
Total reported Institutional selling = 129,888,858 shares
Net reported institutional selling = 73,300,546 shares
8.3 Reported Holdings of Institutions as at Sep 30, 2017
Total = 3,031,346,284 shares
Market Value = $US465.5 billion
SECTION 9 APPLE PATENTS
Issued January 16, 2018
Sensor stack having a graphical element formed by physical vapor deposition [US9871897 (B1)]
Multi-zone imaging sensor and lens array [9,871,980]
Speaker coupling and bracket [9,872,094]
Dome switch and switch housing for keyboard assembly [9,870,880]
Compressed system information for link budget limited UEs in a radio access network [9,872,286]
Dual orientation connector with external contacts [9,871,319]
Process for evaluation of delamination-resistance of hard coatings on metal substrates [9,869,623]
Near-infrared imaging lens [9,869,847]
Electrical tuning of resonant scanning [9,869,858]
Method and system for scheduling application-generated data requests in discontinuous reception (DRX) mode [9,872,333]
Enhanced PRACH scheme for power savings, range improvement and improved detection [9,872,316]
Diameter signaling for mobile IPv4 [9,871,793]
OFDM system with reverse link interference estimation [9,871,603]
Generating an overdrive voltage for power switch circuitry [9,871,507]
Dual connector having ground planes in tongues [9,871,327]
Electronic devices with soft input-output components [9,869,807]
Portable computer sleep mode system sensors [9,869,567]
Integrated media jukebox and physiologic data handling application [9,868,041]
Heart rate path optimizer [9,867,575]
Sensor stack having a graphical element formed by physical vapor deposition [9,871,897]
Multiple step shifted-magnetizing method to improve performance of multi-pole array magnet [9,870,861]
Media clip management [9,870,802]
Display with backlight and temperature color compensation [9,870,739]
Securely sharing cached data [9,870,166]
Speed/positional mode translations [9,870,137]
Graphical user interface layout [9,870,133]
Display screen or portion thereof with animated graphical user interface [D807,907]
Display screen or portion thereof with animated graphical user interface [D807,906]
Display screen or portion thereof with animated graphical user interface [D807,905]
Wearable device [D807,765]
Image capture using display device as light source [9,871,963]
Ceramic cover for electronic device housing [9,871,898]
Method and apparatus for providing dynamic warnings for navigations [9,869,564]
Method and apparatus for three dimensional printing of colored objects [9,868,254]
Pushing a user interface to a remote device [9,870,130]
Auto scanning input method and apparatus [9,870,125]
User interfaces for multiple displays [9,870,115]
Electronic device including selectively operable audio output transducers of transducer port/radiator pairs and related methods [9,870,055]
Integrated multi-touch surface having varying sensor granularity [9,870,041]
Sensor assemblies for electronic devices [9,870,033]
Scheduling device for customizable electronic notifications [9,869,973]
Pixel inversion artifact reduction [9,869,908]
Passive damping solution to optical image stabilization for voice control motors [9,869,881]
To view more details on these Patents, click here
SECTION 10 STOCK BUZZ
To view the Stock BUZZ on Apple, click here
10.1 Latest Buzz
|Jan 18, 2018||Apple says it will decide new campus site without an auction||Investing.com|
|Jan 18, 2018||Apple Inc. Gets Price Target Hike Ahead of Earnings; Here s Why You Shouldn t Be Excited||Smarter Analyst|
|Jan 18, 2018||Apple Inc.'s 13-Inch MacBook Pro Set for Huge Upgrade in 2018||Yahoo New Zealand|
|Jan 17, 2018||Apple, Inc.'s $350 Billion Commitment to the U.S. Economy -- What You Need to Know||Pantagraph|
|Jan 17, 2018||Apple wants to pump $350 billion into U.S. economy, build new||The Business Journal|
|Jan 17, 2018||The iPhone 8 Is a Disappointment For Apple||U.S. News & World Report - Money on MSN.in|
|Jan 17, 2018||Apple Stock Kicks Off Concerns About iPhone X Production Cuts||ValueWalk|
|Jan 17, 2018||Apple Inc. (AAPL) Supplier exploits labor violates Chinese labor laws||benchmarkmonitor.com|
|Jan 17, 2018||Apple to Pay $38 Billion in Repatriation Tax; Plans New U.S.||ih.advfn.com|
|Jan 17, 2018||Apple (NASDAQ:AAPL) Bring its Overseas Cash Pile Home||livetradingnews.com|
|Jan 16, 2018||Apple May Double Services Revenue By 2020||International Business Times on MSN.in|
|Jan 16, 2018||Tuesday Apple Rumors: 2019 iPhone May Feature Smaller Notch||Yahoo Finance|
|Jan 15, 2018||China consumer group seeks answers from Apple about||StreetInsider|
|Jan 15, 2018||Apple Inc (NASDAQ:AAPL) Move as Institutional Investors Sentiment Crashes||the Bibey Post|
January 15: Shegerian & Associates: Judge Rejects Apple's Attempt to Throw Out Gender, Age Discrimination, & Whistleblower Lawsuit By Former Female Employee
LOS ANGELES, Jan. 15, 2018 -- Carney Shegerian, trial lawyer and founder of the Los Angeles-based employment discrimination firm Shegerian & Associates, announced that a judge has ruled on a motion for summary judgement in favor of his client in the case of Levitan v. Apple, Inc.
The case, which was filed in 2016, alleges that Lynn Levitan, an attorney who worked for Apple as Global Product Safety Counsel, was wrongfully terminated after complaining of illegal and unethical issues as well as of a hostile and disparate work environment due to her age and gender.
"Ms. Levitan is a hardworking and experienced attorney who was wrongfully terminated by her superiors after refusing to be silenced about her illegal work environment," says Shegerian. "While Apple claims Ms. Levitan was legitimately terminated, the evidence of her positive performance and impact shows otherwise."
Source: Nasdaq Stock Exchange
December 21 2017: Attorney James Vlahakis of Sulaiman Law Group, Ltd. Lead Counsel for Plaintiffs in Class Action Lawsuit Against Apple, Inc.
LOMBARD, Ill., Dec. 21, 2017 -- Sulaiman Law Group, Ltd., which operates as Atlas Consumer Law, is representing several plaintiffs in a class action complaint against Apple, Inc--led by Attorney James Vlahakis, Lead Counsel. Plaintiffs Ala Abdulla, Lance A. Raphael, Sam Mangano, Ryan Glaze, and Kirk Pedelty came forward against Apple, claiming the company purposefully and knowingly released operating system software updates to a number of generations of the iPhone in an effort to slow the CPU performance speeds of these devices. These iOS updates, plaintiffs claim, were engineered with this very purpose in mind--fraudulently forcing iPhone owners to purchase the latest model offered by Apple.
Apple's failure to inform consumers these updates would wreak havoc on the phone's performance is being deemed purposeful, and if proven, constitutes the unlawful and decisive withholding of material information. This is in direct violation of the Illinois Consumer Fraud and Deceptive Business Practices Act, as well as Indiana's Deceptive Consumer Sales Act, North Carolina's Unfair and Deceptive Trade Practices Act, and Common Law Fraud, all of which state against unfair methods of competition and/or trade conducted under false pretenses. As a result, countless consumers have been harmed and defrauded by this illicit and immoral conduct. The plaintiffs are demanding a trial by jury.
If you are interested in scheduling an initial consultation with a member of the firm's trusted and experienced team, you may reach Atlas Consumer Law by calling (312) 313-1613 at your earliest convenience.
Source: Nasdaq Stock Exchange
10.3 Corporate Wire
To view Recent Company Headlines, click here
January 19: Leading European Technical Colleges Adopt Apple's Everyone Can Code Initiative
LONDON---- Apple today announced 70 colleges and universities in Europe have adopted Everyone Can Code, a comprehensive program designed by Apple to help everyone learn to build mobile apps. These colleges and universities are adopting Apple's App Development with Swift curriculum, helping to create opportunities for all students and equipping them with the skills they need to pursue careers in the booming app economy.
Education institutions in the UK, Germany, France, Italy, Spain, the Netherlands, Sweden, Denmark, Norway, Austria, Belgium, the Czech Republic, Ireland, Luxembourg, Poland and Portugal will offer App Development with Swift to prepare their students for future careers in app development.
January 17: Apple Accelerates US Investment and Job Creation
$350 Billion Contribution to US Economy Over Next Five Years
CUPERTINO, Calif.---- Apple today announced a new set of investments to build on its commitment to support the American economy and its workforce, concentrated in three areas where Apple has had the greatest impact on job creation: direct employment by Apple, spending and investment with Apple's domestic suppliers and manufacturers, and fueling the fast-growing app economy which Apple created with iPhone and the App Store.
January 04: App Store Kicks Off 2018 with Record-Breaking Holiday Season
New Year's Day Sets Record with $300 Million in Purchases
CUPERTINO, Calif.---- App Store customers around the world made apps and games a bigger part of their holiday season in 2017 than ever before, culminating in $300 million in purchases made on New Year's Day 2018. During the week starting on Christmas Eve, a record number of customers made purchases or downloaded apps from the App Store, spending over $890 million in that seven-day period.
"We are thrilled with the reaction to the new App Store and to see so many customers discovering and enjoying new apps and games," said Phil Schiller, Apple's senior vice president of Worldwide Marketing.
Contact: +1 408 996-1010
Physical Address: 1 Infinite Loop, Cupertino, CA,95014
State/Province/Country: CA, United States
Country of Incorporation: United States
Industry [NAICS]: 334220
Apple Inc, Apple, Inc