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Apple forecasts faster sales growth, strong iPhone demand despite glum economy

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Apple forecasts faster sales growth, strong iPhone demand despite glum economy

July 28 (Reuters) – Apple Inc (AAPL.O) on Thursday stated components shortages are easing and that demand for iPhones is unceasing regardless of shoppers tightening different spending, serving to it prime Wall Road expectations and forecast quicker gross sales development forward.

The Silicon Valley large’s shares rose 3.5% after hours following the discharge of the outcomes.

Although macroeconomic indicators all over the world are turning adverse, Chief Monetary Officer Luca Maestri informed Reuters there had been no slowdown in demand for iPhones, the corporate’s largest income.

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Telephone gross sales within the fiscal third quarter rose 3% to $40.7 billion, when Wall Road had braced for a 3% decline. Against this, the general international smartphone market dropped 9% in the course of the just-ended quarter, in keeping with Canalys information.

Apple’s loyal and comparatively prosperous buyer base has enabled it to climate shopper spending dips higher than different manufacturers prior to now, and the corporate’s newest quarterly outcomes counsel an analogous sample rising.

Canalys Analysis analyst Runar Bjorhovde stated, “Apple in that sense has a sure robustness that can enable it to be impacted lower than lots of its opponents.”

Apple supplied some warning.

The slumping financial system is hurting gross sales of promoting, equipment and residential merchandise, Apple’s Maestri stated in an interview, calling the models “pockets of weak point.”

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“Thankfully, we have now a really broad portfolio, so we all know we’re going to have the ability to navigate that,” he added.

The outcomes present Apple’s promoting enterprise, which incorporates promoting adverts alongside information articles and app retailer search outcomes, is weak to advertising cuts simply the identical as rivals Snap Inc (SNAP.N) and Meta Platforms Inc (META.O).

Components shortages will proceed to hamper Mac and iPad gross sales, Maestri stated, although the impression has been easing. They value Apple underneath $4 billion in gross sales within the quarter ended June 25, lower than it had forecast. Maestri stated the corporate expects the hit to decrease additional within the present quarter.

However Apple dangers becoming a member of rivals in amassing an unsellable stockpile of tablets and PCs if extra clients than anticipated maintain off purchases as a result of rising inflation and rates of interest.

“By way of testing the demand, you may’t actually check the demand until you will have the availability,” Apple Chief Govt Tim Prepare dinner informed analysts on Thursday. “And we had been so removed from that final quarter that we have now an estimate of what we consider demand was. However it’s an estimate.”

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Citing the financial uncertainty, Apple stated it was not offering particular income steering. Nevertheless it stated gross sales in comparison with a 12 months in the past ought to rise quicker within the present quarter than 2% development it posted within the just-ended quarter.

‘MORE DELIBERATE’

General, Apple stated quarterly gross sales and revenue had been $83.0 billion and $1.20 per share, above estimates of $82.8 billion and $1.16 per share, in keeping with Refinitiv information.

The rising U.S. greenback has hit many firms similar to Apple that generate substantial overseas income and are getting much less money again after they convert it. Apple stated foreign money fluctuations slashed gross sales by 3% within the June quarter and would crimp them by 6% within the present quarter.

Shuttering its enterprise in Russia earlier this 12 months as a result of conflict additionally has damage gross sales.

Apple, like lots of its tech business friends, is slowing hiring and slicing prices given the robust financial local weather. learn extra Prepare dinner stated Thursday that Apple was “being extra deliberate in (hiring) in recognition of the realities of the surroundings.”

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The newest financial woes embrace provide chain disruptions which have hit manufacturing of some Apple merchandise similar to iPads and Macs whose meeting places had been clustered close to areas of China that went into COVID lockdowns.

Whereas gross sales of iPhones and iPads topped expectations, income from companies, Mac computer systems and equipment missed Wall Road targets and gross sales within the essential China market fell 1% as shoppers being on lockdown there restricted gross sales.

Apple is also confronting gradual general financial development in China, the place its fiscal third-quarter gross sales had been $14.6 billion.

Development within the firm’s companies enterprise, which has supplied a lift to gross sales and earnings lately, was 12%, beneath the earlier 12 months’s 33% charge and leading to $19.6 billion in income, beneath estimates of $19.7 billion.

Apple stated it now has 860 million paying subscribers to its companies, up from the earlier quarter’s 825 million.

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Gross sales of iPads and Macs had been $7.2 billion and $7.4 billion, in contrast with estimates of $6.9 billion and $8.7 billion. Mac gross sales represented a ten% contraction, after report gross sales since 2020, first from a work-from-home enhance after which from Apple’s new proprietary processor chips.

Its shares closed Thursday down about 11% to date this 12 months, barely lower than the broader S&P 500 (.SPX) index and likewise lower than different shopper {hardware} makers similar to Sonos Inc (SONO.O) and Samsung Electronics Co (005930.KS), the one firm that sells extra smartphones than Apple. learn extra

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Reporting by Stephen Nellis, Nivedita Balu and Paresh Dave; Modifying by Peter Henderson and Lisa Shumaker

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Top secret Iranian drone site used by IRGC, terror proxies exposed by opposition group

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Top secret Iranian drone site used by IRGC, terror proxies exposed by opposition group

The People’s Mojahedin Organization of Iran (MEK), an exiled Iranian resistance group, provided a report to Fox News Digital presenting evidence of a top-secret unmanned aerial vehicle (UAV) site in the Islamic Republic of Iran, north of Qom City in the Ganjine region. 

According to the report, members of the Islamic Revolutionary Guard Corps (IRGC) are trained to use “all kinds of drones” at the base, including the Mohajer series, manufactured by Qods Aviation Industry. Employees of Qods Aviation Industry also reportedly use the site to train small groups of Iranian proxy operatives of Hezbollah, as well as members of Iranian proxy groups from Syria, Yemen and Iraq, to use the Mohajer-4 drone platform. 

The National Council of Resistance of Iran (NCRI), based on information from the MEK, told Fox News Digital that the site is a proving ground for Mohajer-4, Mohajer-6, and Mohajer-10 drones. 

Alireza Jafarzadeh, deputy director of NCRI’s Washington, D.C., office, told Fox News Digital that “seven months into the regional conflict, it has become evident that the regime in Tehran is the proverbial ‘head of the snake’ of belligerence and terror export in the Middle East. As such, Western governments must exercise firmness instead of accommodation and engagement in dealing with Tehran and hold it to account for its malign activities.” 

UNIVERSITY OF TEHRAN PROFESSOR SAYS PROTESTERS AT US COLLEGES WILL SUPPORT IRAN IN AMERICAN CONFLICT

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The Iranian Mohajer-4 drone, manufactured by Qods Aviation Industries and tested at the Ganjine airfield, has been proliferated widely according to online documents from the U.S. Army Training and Doctrine Command. (Courtesy of National Council of Resistance of Iran)

Qods Aviation Industry is listed on the Treasury Department’s Specially Designated Nationals and Blocked Persons List, as is its new moniker, Light Airplanes Design and Manufacturing Industries. 

The newest drone in its arsenal, the Mohajer-10, can carry a payload of 300 kilograms for a range of 2,000 kilometers, according to Breaking Defense. Released in August 2023, the drone has a 450-liter fuel tank and can stay airborne for 24 hours. In a photo of the new drone shared on an Iranian television station, text in both Hebrew and Persian advised viewers to “prepare your shelters,” Reuters reported.

Brett Velicovich, a U.S. Army veteran and author of “Drone Warrior: An Elite Soldier’s Inside Account of the Hunt for America’s Most Dangerous Enemies,” said that the schematics for deadly Mohajer- and Shahed-series drones are being exported to Iranian proxies around the world. “One or two guys can launch one of these drones from the middle of a field…and they have the capability to conduct just as powerful a strike as major nation states could before,” Velicovich said.

Velicovich added this allows Iran to “sow chaos and discord” while also “having plausible deniability.” He claims the regime “want to use these long-range drone systems to show that they somehow have control over the Middle East and the region.” 

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Iran's secret drone program

A new 30- by 40-meter hangar was added to the UAV testing site, 10 kilometers north of Qom City, in 2020. Qods Aviation Industry, a sanctioned entity, trains Islamic Revolutionary Guard Corps members and Iranian proxies at the site.  (Courtesy of National Council of Resistance of Iran)

Drones have played a role in the escalations taking place overseas following Oct. 7. The United States Institute of Peace notes that “U.S. forces deployed across the Middle East were attacked more than 160 times by pro-Iranian militias” between October 2023 and February 2024.

One of those strikes was deadly. On Jan. 28, an Iranian proxy used a drone to kill three U.S. service members in Jordan. National Security Council spokesperson John Kirby stated that the Islamic Resistance in Iraq was behind the attack. He did not state which of the Iranian proxy groups under the resistance umbrella bore responsibility. The Pentagon stated it could not provide answers to Fox News Digital’s request for information about the group behind the attack or the type of drone that was used. United States Central Command told Fox News Digital that it does not comment on ongoing investigations.

BIDEN ADMIN SANCTION WAIVERS GIVE IRAN ACCESS TO BILLIONS IN FUNDS TO KEEP WAR EFFORTS GOING, EXPERT SAYS 

Top secret drone base exposed in Iran.

An Iranian opposition group exposed a top-secret drone base in the country. It is said Supreme Leader Ayatollah Ali Khamenei has overseen the country’s drone project since 2004. (Photo: Ayatollah Ali Khamenei: Getty Images/Base: NCRI)

On Apr. 13, Iran fired dozens of drones, including the Shahed-136, and hundreds of missiles at Israel in retaliation for an Apr. 1 bombing that killed seven IRGC members at the Iranian embassy compound in Damascus, Syria. The Israel Defense Forces (IDF) did not respond to a request for comment about whether the Mohajer system was used against Israel in Iran’s attack, or in any attacks since Oct. 7.

Velicovich recently traveled to Israel, where he said he witnessed “a lot of activity” at the northern border, where the IDF “are fighting with Hezbollah…in a sort of covert battle.” Drones are part of that conflict, though Velicovich did not report witnessing Iranian drones at the northern border. 

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“Israelis have extremely strong defenses against UAVs,” Velicovich said. “But Iranian scientists are everyday trying to develop something new and testing those airwaves to figure out how to get around the Iron Dome, how to get around the Patriot missile system,” he added.

Secret site of drone program.

The UAV proving ground in Ganjine, Iran, where the Mohajer-series drone is tested, and Iranian proxies are trained in drone operations. The airstrip has been enlarged twice since 2007. Now 1,500 meters in length, larger drones can be tested at the site. (Courtesy of National Council of Resistance of Iran)

There has been no indication of whether Mohajer series drones have been utilized by Iran, its proxy Hezbollah or other proxy groups attacking Israel or U.S. forces since Oct. 7. The MEK was not aware of evidence that the drone site in Qom has been used in any attacks against Israel since Oct. 7.

According to online documents from the U.S. Army’s Training and Doctrine Command (TRADOC), the Mohajer system has proliferated to Iran’s allies. TRADOC writes that the Mohajer-4 platform, which entered mass production in 1999, has been distributed “widely,” including to non-state actors. Used for surveillance and to interdict drug smugglers, the Mohajer-4 can also be equipped with the Hydra unguided rocket. It can remain airborne for seven hours.

AGITATOR BEHIND ‘DEATH TO AMERICA’ CHANTS IN CHICAGO CONTRIBUTES TO IRAN STATE TV, HEZBOLLAH-LINKED CHANNEL 

The Mohajer-6 entered production in 2018. Syria, Hezbollah, Ethiopia, the Russian Federation, Iraq and Venezuela have access to the drone, according to TRADOC. Army documents state the drone, which can be airborne up to 12 hours, can be launched and recovered from a runway, and can carry “a multispectral surveillance payload, and/or up to two precision-guided munitions.”

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The MEK provided documents and aerial imagery to Fox News Digital showing how the Qom site has expanded in recent years. According to translated documents MEK provided from the Iranian Armed Forces’ Real Estate and Land Organization, the site was first proposed as a UAV testing ground in February 2005. In May 2006, 1,800 hectares (more than 4,400 acres) of land near Qom were handed over to the Ministry of Defense and Armed Forces Logistics.

Raisi IRGC Salami

Iranian President Ebrahim Raisi (R) addressed while standing next to commander-in-chief of the Islamic Revolutionary Guard Corps (IRGC), Hossein Salami (L), and Mohammad Bagheri, Chief of Staff for the Armed Forces of the Islamic Republic of Iran, during a military parade marking Iran’s Army Day anniversary near the Imam Khomeini shrine in the south of Tehran, April 18, 2023. Raisi said, we will destroy Haifa and Tel Aviv if Israel takes ”the slightest action” against Iran. (Morteza Nikoubazl/NurPhoto via Getty Images)

The MEK reports that just 949 hectares have been used for the site. Aerial photographs show the site’s first 500-meter runway, created in 2007. In 2014, photos demonstrated that the runway was expanded to 1400 meters. Photos show the runway was further enlarged in 2020 to 1500 meters “so larger drones could also be tested.” Additional photos show that a hangar of about 30 by 40 meters was added in 2021. 

According to the MEK’s report, asymmetric warfare forms “a critical part of a deliberate strategy” that relies on “extensive use of drones and missiles, which the regime is capable of manufacturing with the support of its allies. Proxies execute these operations on behalf of the regime.” The MEK also cites “intelligence sources” claiming that Supreme Leader of Iran Ali Khamenei “has personally overseen Iran’s drone project since 2004.” 

The MEK urges other Western states to follow suit with the U.S.’ 2019 designation of the IRGC as a foreign terrorist organization.

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Velicovich noted that “Iran was the orchestrator, in my opinion, on the Oct. 7 attacks.” He explained that the regime used “one of their proxy groups, to not pin the full blame on them, but it’s their money and material.” He worries that the U.S. government “doesn’t have a handle right now on the true amount of drone systems that the Iranians are trying to build. And we won’t feel the effect tomorrow. It will be years from now,” he warned.

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Borrell: Spain, Ireland and others could recognise Palestine on 21 May

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Borrell: Spain, Ireland and others could recognise Palestine on 21 May

Spain, Ireland and other like-minded EU member states could recognise the State of Palestine on 21 May, the EU’s High Representative for Foreign Affairs, Josep Borrell, has said.

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In an interview on Spanish national radio RNE on Thursday, Borrell was asked to confirm reports in Irish media that Spain, Ireland and a handful of other EU member states could formally recognise the State of Palestine on May 21.

Borrell confirmed the plans, adding that the Spanish foreign minister, José Manuel Albares, had told him that 21 May was the proposed date.

Borrell had been attending an event to celebrate Europe Day in Madrid along with Albares hours earlier.

Irish diplomatic sources have confirmed to Euronews that a group of European countries is proposing to recognise a Palestinian state during the month of May, with the 21st a possible date, but not set in stone.

The source added that the date could shift to allow other countries, including non-EU country Norway, to move in tandem.

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Borrell also mentioned Slovenia as one of the countries that could join the joint recognition after the government in Ljubljana passed a decree on recognising the Palestinian state earlier on Thursday.

The EU’s top diplomat also added that Belgium could soon follow suit, as it was delaying the recognition while waiting for more countries to get on board. 

Malta could also join, having backed a declaration of intent during a March summit of the European Council.

It comes as the UN General Assembly votes on Friday on a resolution to make the State of Palestine a full member of the United Nations, where they currently hold observer status.

Nine of the EU’s 27 member states currently recognise Palestinians’ right to a state according to the so-called 1967 borders, which include the West Bank, the Gaza Strip and East Jerusalem.

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Malta, along with eastern states such as Bulgaria, the Czech Republic, Romania and Slovakia, have recognised the Palestinians’ right to statehood since 1988. In 2014, Sweden became the first member state to unilaterally recognise Palestinians’ right to statehood while a member of the bloc.

Although the European Union supports the so-called two-state solution – which would deliver statehood for Palestinians – and is the single biggest donor of aid to Palestinians, it has not yet unanimously backed the recognition of a Palestinian state.

European Council President Charles Michel told Euronews in April that member states willing to recognise the State of Palestine should move in tandem in order to “trigger significant progress” in building peace in the war-torn region.

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The Other Black Girl Cancelled at Hulu

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The Other Black Girl Cancelled at Hulu


‘The Other Black Girl’ Cancelled at Hulu — No Season 2



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