Apple Inc Stock Price, News & Analysis

Apple has announced an accelerated target for 2025 to incorporate 100% recycled materials in its products, including cobalt in batteries and rare earth elements in magnets. Presently, over two-thirds of aluminum, nearly three-quarters of rare earths, and more than 95% of tungsten in Apple products are sourced from recycled materials. The company aims to utilize 100% certified recycled cobalt by 2025, having significantly increased its recycled cobalt usage from 13% in 2021 to 25% in 2022. The goal is supported by ongoing innovations in recycling processes and partnerships to enhance material recovery.

Additionally, Apple strives to eliminate plastics from packaging by 2025, and is working on responsibly sourcing materials while supporting communities affected by mining. This initiative aligns with Apple's broader 2030 goal of carbon neutrality across its products.

Apple will host its annual Worldwide Developers Conference (WWDC) from June 5 through 9, 2023, offering a free online format and a special in-person experience at Apple Park. This year, WWDC23 will spotlight advancements across iOS, iPadOS, macOS, watchOS, and tvOS, enabling developers to access Apple engineers and learn about new technologies. Submissions for the Swift Student Challenge are open until April 19, encouraging students to create app playgrounds. The event aims to connect developers globally and showcase Apple's commitment to innovation.

Apple is set to open its latest store, Apple Gangnam, in the Gangnam District of Seoul on March 31 at 5 p.m. local time. The store will offer a variety of free Today at Apple sessions, focusing on enhancing customer creativity through workshops on music, art, and photography. Notably, the Apple Pay service recently launched in South Korea, expanding Apple's service offerings. The site features nearly 150 trained staff members and operates on 100% renewable energy. Additionally, there will be a special Pop-Up Studio showcasing K-pop group NewJeans starting April 1.

Apple has launched Apple Pay Later in the U.S., enabling users to split purchases into four payments over six weeks without interest or fees. Users can apply for loans ranging from $50 to $1,000 using the Apple Wallet. The rollout begins with selected users invited to access the prerelease version, with plans for broader availability soon. Apple Pay Later is designed to promote financial responsibility, featuring tracking and management tools within the Wallet app. Collaborations with Mastercard and Goldman Sachs facilitate this service.

Apple has launched Apple Music Classical, a new standalone app for classical music enthusiasts, included at no extra cost for existing Apple Music subscribers. This app features the world's largest classical music catalog with over 5 million tracks, immersive Spatial Audio, and enhanced search capabilities designed specifically for classical works. Notable features include expertly curated playlists, high-resolution audio quality, and insights from classical music experts. The app is available now on the App Store, except in certain countries, aiming to redefine the classical music streaming experience.

Apple has unveiled a new yellow variant of the iPhone 14 and iPhone 14 Plus, enhancing its color offerings for spring. Both models feature a robust design with a Ceramic Shield front cover, a dual-camera system for high-quality photos and videos, and the powerful A15 Bionic chip. Key highlights include remarkable battery life, innovative safety features like Emergency SOS via satellite, and Crash Detection. Pre-orders begin on March 10, with availability starting March 14. The iPhone 14 is priced at $799 and the iPhone 14 Plus at $899.

Apple reported its fiscal Q1 2023 results, achieving $117.2 billion in revenue, a 5% decline year-over-year. The earnings per diluted share were $1.88. Despite challenges, Apple reached a significant milestone with over 2 billion active devices in its installed base and recorded $20.8 billion in revenue from its Services segment, setting a new all-time high. Operating cash flow was $34 billion, and Apple returned $25 billion to shareholders through dividends and repurchases. A cash dividend of $0.23 per share will be paid on February 16, 2023, to shareholders of record as of February 13, 2023.