Apple Fourth Quarter Conference Call Summary (118.25 +0.60)
- Apple Pay with live in Japan yesterday; co expects rapid adoption in the country.
- Apple Pay transactions higher by 500% YoY.
- Co expects over 100 HomeKit products to soon be available on the market.
- Company has invested in machine learning research and development and deals.
- Co exited the quarter below targeted range for iPhone channel inventory.
- Co expects December quarter China sales will be significant better than this quarter (as seasonally expected).
- iPhone ASP's were above expectations.
- Co expects iPhone ASP's to increase QoQ.
- Mac install base reached all time high at the end of the September quarter.
- iPad channel inventory exited the quarter below target range.
- iPhone 7 Plus demand is outstripping supply.
- Asked about iCar: Co said it does not comment on rumors; says car space is an area where alot of technologies will become available in the general industry.
- Underlying demand on iPhone 7 and iPhone 7 Plus is 'strong'.
- Co said that it is open to acquisitions of any size.
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