Last week was an important week for Apple Inc. AAPL 0.5% and its shareholders. Deutsche Bank analyst Sherri Scribner released a new report on Monday with a list of all the big headlines from Apple’s big week.
Disappointing Earnings
The most important piece of news last week was Apple’s Q2 earnings report, which fell short of the market’s expectations. While revenue, earnings per share and gross margins all topped Wall Street expectations, Apple’s stock sank because the company’s reported 47.5 million iPhone sales disappointed the market.
Capex Reduction
Apple revealed in its latest 10-Q filing that its fiscal 2015 capex expectations of $12 billion are now $1 billion lower than previous expectations. An Apple spokesperson told The Wall Street Journal that the reduction is due to cost cutting and not changes in product plans.
Apple Hires Auto Exec
Apple announced that it has hired Doug Betts, former head of global quality at Fiat Chrysler Automobiles NV FCAU 3.61%. “We believe recent hires indicate that Apple is clearly working on something related to cars, but whether it’s an actual car or more related to car connectivity is still unclear,” Scribner noted.
Car Production?
A report by German magazine Manager Magazin claims…
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