Apple on Thursday announced that the first week of January set a new record for billings from the App Store, with customers around the world spending nearly half a billion dollars on apps and in-app purchases. It also revealed New Year’s Day 2015 marked the single biggest day ever in App Store sales history, as customers presumably used gift cards and took advantage of App Store sales.
Apple just announced via its Investor Relations portal that it will be announcing the financial results for its first fiscal quarter of 2015 on Tuesday, January 27. As usual, the company will be hosting a conference call to discuss its earnings, beginning at 2:00 p.m. PT / 5:00 p.m. ET.
Apple was the biggest buyback spender among the S&P 500 this year, according to MarketWatch. Citing data from FactSet, the outlet reports the iPhone-maker has bought back more than $56 billion worth of shares from stockholders in 2014.
That's a staggering amount, especially when you consider that the company that came in second place among buyback spenders in 2014, IBM, only spent $19.2 billion. Apple spent almost that much ($18.6 billion) during its first quarter this year.
Apple has halted all online sales in Russia this morning, due to "extreme" fluctuations in the country's ruble currency, reports Bloomberg. Spokesman Alan Hely told the outlet that the company has decided to shutter the store while it "reviews pricing,” and it “apologizes to customers for any inconvenience.”
The Russian economy has been in trouble for months, but things have gotten significantly worse in recent days due in large part to the falling price of oil and economic sanctions. The ruble has plummeted a staggering 19% within the last 24 hours—the worst single day drop for the currency in the last 16 years.
In addition to the now-iconic "spaceship" building, Apple's upcoming Campus 2 will also feature a state-of-the-art auditorium and fitness center. And according to building permits recently obtained by BuildZoom, the Cupertino firm is spending a fortune on the two spaces.
The permits show that the 120,000 square foot auditorium where Apple will hold future press events is being constructed by BNBT Builders, and is costing the company around $161 million. Additionally, the 100,000 square foot fitness center is costing them $74 million.
Chase is launching a new promotion to entice its cardholders to try out Apple Pay. As noted by MacRumors, the bank is notifying customers that they're giving away free iTunes music this weekend to anyone who adds their card to Apple's payment service.
From November 21 to 23, those who add their Chase Visa card to Apple Pay will receive early access to David Guetta's new album "Listen." Once verified that their card has been added, users will receive an iTunes redemption code via the Chase mobile app.
Snapchat updated its iOS client today, bringing the app to version 8. The update activates the company's new 'Snapcash' money transfer service, which it announced yesterday, that allows users to quickly send money to one another by simply sending a message.
Snapcash is a collaborative project between Snapchat and Square, built using the SquareCash concept. SquareCash allows users to send money via email, text message and Bluetooth with little friction, so it's not hard to see how they made the jump to Snapchat.
The New York Times reported on Friday that Apple Pay now accounts for 50% of the tap-to-pay transactions at all of McDonald's 14,000 US stores. Additionally, the outlet claims that Walgreens' mobile payments at its 8,000+ stores have doubled since the service launched.
The figures were nestled in a broader piece regarding Apple's role in mainstreaming mobile payments. Google Wallet and Softcard—backed by AT&T, T-Mobile and Verizon—both say that Apple Pay has been a huge tailwind, as they've seen an increase in usage since it debuted.
Winn-Dixie and BI-LO, two major grocery store chains in the southeastern region of the US, are now accepting Apple Pay. MacRumors reports that it was told the companies would begin processing AP payments next week, but the system seems to have already gone live in many stores.
This is a significant coup for Apple, who has been seeing pushback from high profile retailers in recent weeks regarding Apple Pay. Winn-Dixie and BI-LO have over 1,300 locations between them, which are spread throughout North and South Carolina, Georgia and surrounding states.
An excellent read by Jeff Sommer for the New York Times about the financial impact of the iPhone on the global economy.
“The iPhone is having a measurable impact,” said Michael Feroli, the chief United States economist for JPMorgan Chase. “It’s a little gadget, but it costs a lot and it seems that everybody has one. When you do the multiplication, it’s going to matter.” He estimates that iPhone sales are adding one-quarter to one-third of a percentage point to the annualized growth rate of the gross domestic product.
If you want to learn more about the economic ramifications of the iPhone, I recommend you read the whole piece.
In an effort to encourage users to try out Apple Pay, Wells Fargo has launched a program that offers $20 to card holders who use the service. The rules are simple: make an Apple Pay purchase with your Wells Fargo Credit Card by November 30, 2014, and you'll earn a $20 statement credit.
The bank published the details of the promotion on its website early Monday, along with other Apple Pay information. Wells Fargo says that Apple Pay purchases are covered under its Zero Liability fraud protection service, and are also compatible with its popular loyalty rewards program.
GT Advanced and Apple have reached a settlement that will allow the two companies to part ways amicably, reports The Wall Street Journal. Under the terms of the deal, GT will be paying Apple back for its $439 million loan by selling off its 2,000+ furnaces.
The news surfaced during GT Advanced's bankruptcy hearing this afternoon—two weeks ago, the sapphire-maker filed for Chapter 11 bankruptcy protection. Low cash flow was cited as a reason for the filing, but few details are known about the circumstances.