Apple’s Credit Card Is Confirmed to Drop This August

5G Apple iPhone

Services revenue in the fiscal third quarter rose 12.6 per cent to $11.46 billion U.S., a new record, but missed expectations of $11.73 billion, according to IBES data from Refinitiv. Cook announced the news during Apple's Q3 2019 earnings call. (2) We expect that the prices of 5G Android smartphones will decline to $249-349 in 2H20.

Reputed analyst formerly of KGI and also the foremost authority on Apple leaks, Ming-Chi Kuo has said according to Macrumors that 2020 iPhones will feature a rear time-of-flight (ToF) 3D depth sensor. Cook attempted to smooth over reactions to the drop, saying, "While this is down 12% from last year's June quarter, it is a significant improvement to the 17% year-over-year decline in Q2".

Apple's iPhone problem isn't that people are giving up their iPhones and buying Android devices, but rather that nearly everyone already has a smartphone.

"We couldn't be happier with the progress", Apple CEO Tim Cook said during a Tuesday conference call. Last quarter, the iPad recorded its strongest revenue growth in six years. The segment grew just 12.6%, down from the second quarter of 2019, which yielded 16% growth year-over-year.

Sure, there are plenty of people who don't have an iPhone, and I'm sure Apple would be happy to sell them one. Those services still mostly require the iPhone. Revenue clocked in at $53.8 billion, up 0.9% year-over-year.

Back in March, all Apple would say about the launch of Apple Card is that it would arrive sometime this Summer.

Shares in Apple jumped 4.5% in morning trading, adding more than $40 billion to the iPhone maker's market capitalization and lifting it past the $1 trillion mark.

Mac sales totaled $5.82 billion, up from $5.26 billion, and iPad sales came to $5.02 billion, up from $4.63 billion.

The Apple Card is one of several new services Apple will be launching in the near future. Unlike the somewhat opaque nature of most current credit cards, Apple Card will dynamically show how those interest payments would vary depending on how much a customer pays off of the balance each month.

Apple has tied-up with Goldman Sachs and MasterCard to launch its new service that the company said will be available not only digitally, but also in form of a physical credit card made out of titanium. "We also see accelerating growth within Services, aided by the upcoming launch of the Apple Card in August as well as Apple Arcade and Apple TV+ this fall", CFRA analyst Angelo Zino said in a research note to investors after Apple's quarterly results.

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