Apple reported a 38 percent increase in profits — which equals $10.7 billion — from a year ago. Revenue rocketed 33 percent to $49.6 billion, and the iPhone, the company’s biggest source of revenue and profit, jumped up 35 percent to 47.5 million units. Still, on hearing the news, Apple’s stock plummeted. Why? Investors and Wall Street analysts expected Apple to wildly exceed its projections. Instead, when stratospheric sales of iPhones and Apple Watches didn’t materialize, Apple fans and shareholders were disappointed. Continue reading Apple Stock Declines on News of 38 Percent Growth in Profits

Apple unveiled its new iPhone 6 and iPhone 6 Plus at a press event in Cupertino yesterday. The next-gen smartphones feature higher resolution displays, improved camera capabilities, and a glass that curves around the sides. The iPhone 6 Plus has a 5.5-inch screen, the largest so far for an Apple phone. The company also introduced the long-awaited Apple Watch, its first major new product since the iPad in 2010. The $349 smartwatch will work with iPhone 5 models and the new iPhones. Continue reading Apple Announces Two New iPhones, Smartwatch and Apple Pay

Apple is expected to hold its next invitation-only event on Tuesday, October 22. On the eve of the holiday rush, Apple is preparing to unveil a slate of updates including the company’s fifth-generation iPad, the new Mac Pro and OS X Mavericks. The new 9.7-inch iPad is expected to be thinner and lighter, featuring Apple’s latest A7X processor and possibly its new Touch ID fingerprint sensor. A second-generation iPad mini is also anticipated. Continue reading Apple Gears Up to Unveil iPad Updates Prior to the Holidays

During yesterday’s press event at company headquarters in Cupertino, Apple CEO Tim Cook unveiled the iPhone 5s touting a 64-bit A7 processor with twice the number of transistors as its predecessor, promising speeds twice as fast. As rumored, the company is also offering the lower-cost iPhone 5c with polycarbonate design, starting at $99 with contract. In addition, Apple announced that its iTunes Radio service and redesigned iOS 7 are both scheduled to launch next week. Continue reading Apple Unveils New Smartphones, Sets Launch of iTunes Radio

Yesterday we reported that Apple will unveil new products at a highly anticipated press event scheduled for 10:00 AM PT from its headquarters in Cupertino, California. The company is expected to announce two new iPhone models: the 5S with a faster processor, improved camera and fingerprint reader — and the plastic, lower-cost 5C, intended to target emerging global markets. In previous event coverage, live streams of announcements were made available at the Apple Events page and via Apple TV. Continue reading Apple Event Scheduled for 10:00 AM Today from California

At a planned event tomorrow from its Cupertino, California headquarters, Apple is expected to announce two new iPhone models — one with a faster processor and another to be offered at a lower cost. As Apple’s profit growth has been impacted by a saturated handset market in the U.S. and parts of Europe, a lower-cost smartphone could allow the company to expand into other markets such as China and India, which would also mean new potential customers for iTunes movies, TV and music. Continue reading Apple Plans to Unveil Two New iPhones, Could Help Hollywood