Powered by Guardian.co.ukŠis raksts ar nosaukumu “Ābols: ko jūs darīt, kļūstot par pasaulē ienesīgāko kompānija?” bija raksta Rupert Neate Ņujorkā, par The Observer Sestdien 31. janvārī 2015 15.01 UTC

kad Apple kļuva par ienesīgāko uzņēmumu vēsturē pagājušajā nedēļā, analītiķi diez saturēt savu sajūsmu.

"Apdullināšana", "Izcili", "Monstrs" bija daži no analītiķu reakciju uz cipariem kas norāda Silicon Valley firma veica $ 18bn (£ 12 miljardus) tikai trīs mēnešus - pārdodot 34,000 iPhone stundu visu diennakti, no oktobra līdz decembrim. Tas tagad ir $ 178bn naudu bankā.

Bet galu galā saviļņojums, jautājumi sākās. Uzņēmums, kas ir atgriezies no bankrota robežas mazāk nekā 20 gadiem, cik ilgi var labas ziņas turpināt? Šeit ir seši lieli jautājumi saskaras pasaules lielāko korporatīvo panākumus.

finansiāli, tas ir virsotne?

Apple bija 90 dienas prom no bankrota, kad Steve Jobs atgriezās to 1997- kā viņš vēlāk atklājās - bet Apple tagad ir tendence mazināt savu finansiālo panākumu priekšā ceturkšņa peļņas paziņojumiem, lai pārsteigt investorus un analītiķi.

Šī ceturkšņa peļņa bija citā mērogā, tomēr. Pārdošanas trīs mēnešos līdz decembra beigām bija līdz 30% līdz 74.6bn $. Šie peļņa $ 18bn bija līdz 37%.

Tas bija ātrākais ceturkšņa pieaugums kopš marta 2012, bet tad Apple bija uz pusi mazāks tas ir tagad. Kā Apple galvenais finanšu virsnieks, Luca Maestri, teica: "Lai uzņēmums mūsu izmēra, kas nav mazs feat."

Katy HUBERTY, analītiķis Morgan Stanley, teica, ka tas bija "ceturksnis par rekordu grāmatā" un palielināja savu akciju cenu mērķi no $126 līdz $133, norādot, viņa uzskata, ka ir vairāk izaugsme nākt. akcijas, kas izlēca 5% pēc stundas tirdzniecības pēc Apple rezultātus, slēgta $117 piektdien.

Liels izaicinājums tagad, saka Geoff Blaber, viceprezidents izpētes CCS Insight, ir atrast nākamo izaugsmes iespējas. "Rietumeiropa un Ziemeļamerika ir kļūst piesātināts: ir telpa izaugsmes Apple ir jāpaļaujas uz ņemot izaugsmi no [Google] Android operētājsistēma balstītas ierīcēm," viņš saka. "Lielais, liels, uzsvars ir uz Ķīnu un mazākā mērā Indija. "

Analītiķi aptaujāto Thomson Reuters sagaidīt Apple ieņēmumi gadā līdz septembrim augt 22%, bet pieaugums palēnināsies līdz 4% kā arī nākamajā gadā.

Vai ir palikuši daudz vairāk cilvēku, kas vēlas iPhone?

Apple pārdeva rekordlielu 74.5m motocikli ceturksnī, 46% vairāk nekā vienā un tajā pašā laika posmā gadu iepriekš. "Pieprasījums pēc iPhone ir satriecoša, satricinošs mūsu lielas cerības,"Izpilddirektors Tims Kuks teica. "Šis apjoms ir grūti saprast."

Telefoni veidoja divas trešdaļas no Apple ieņēmumu, un ir vērts vairāk nekā Microsoft un Google jaunākās ceturkšņa pārdošanas kombinēt.

"Šķiet, visa pasaule vēlas iPhone,"Steven Milunovich, analītiķis UBS, rakstīja piezīmē investoriem, norādot, ka patērētāji bija pieprasījis vēl jaunu telefonu, bet Apple nevarēja uzrādīt tos pietiekami ātri, līdz nesen.

Tomēr, Toni Sacconaghi, analītiķis Bernstein Research, brīdina, ka Apple izaugsme var būt pārāk atkarīga no septiņus gadus vecu produktu līniju. “A bet on Apple is increasingly a bet on the iPhone,” Sacconaghi says. “The good news is, iPhones are great. The bad news is, right now that’s driving over 100% of the revenue growth of the company.”

A Chinese customer buys two new iPhone 6s.
A Chinese customer buys two new iPhone 6s. Fotografēt: Johannes Eisele/AFP/Getty Images

How important is China?

Very: iPhone sales are exploding in the country. Apple overtook local producer Xiaomi to become China’s biggest smartphone seller in the last quarter. Chinese sales, which had been weak for Apple until it released the latest bigger-screen phones, came in at $16.1bn, augšup 70% on last year – when it also did not have a deal giving it access to China Mobile’s estimated 760 million subscribers.

Revenues in China are quickly catching up with the amount it collects in the whole of Europe, where sales were $17.2bn, augšup 20%.

“I was there [in China] right after the launch in October, and the excitement around the iPhone 6 un 6 Vairāk [bija] absolutely phenomenal,” Cook said during his call with analysts. “You can tell that we’re a big believer in China.”

Apple plans to double the number of its stores in greater China to 40 by mid-2016. “It’s an incredible market,"Viņš teica. “People love Apple products. And we are going to do our best to serve the market.”

Only a year earlier, in October 2013, Apple was the No 6 smartphone maker in China, trailing Xiaomi, Huawei, Lenovo, Samsung and Yulong, according to research firm Canalys.

“This is an amazing result, given that the average selling price of Apple’s handsets is nearly double those of its nearest competitors,” Canalys says. “While Chinese smartphone vendors are quickly gaining ground internationally, Apple has turned the tables on them in their home market.”

Can it afford for the Apple Watch to fail?

It has been five years since Apple launched its latest truly new product – the iPad – in 2010. To live up to its name for innovation, and diversify revenues away from reliance on the iPhone, Apple needs the Apple Watch to be an unqualified success.

Cook announced that the watch would go on sale in April, giving the company a boost in its third quarter when it will not benefit from Christmas or the Chinese new year, which will have helped the previous two quarters. “We’re making great progress in the development of it,"Viņš teica.

Apple describes the new product – often referred to as the iWatch, although it has not been officially named – as the “most personal device ever” and it is thought it will be able to monitor its wearer’s health as well as connect to an iPhone to provide several other functions. Cook said app developers had already impressed him with “some incredible innovation”.

Carolina Milanesi at Kantar Worldpanel ComTech says the watch will help Apple extend its sales into a much wider market. “They have been very smart in pushing it as jewellery and design rather than how technologically smart it is," viņa saka. “They are concentrating more on impressing the design and fashion world than the tech bloggers.

“I think this will be a much more irrational buy than with an iPad. With an iPad you wanted an iPad: this is going to be more of a fashion statement.”

She said the launch would benefit from the fashion and marketing skills of Angela Ahrendts, the former Burberry boss Apple hired last year on a $73m pay package as its head of retail.

Apple poached a string of big names from fashion and design to join its watch team, including Patrick Pruniaux, former vice-president of sales at Tag Heuer and former Yves Saint Laurent boss Paul Deneve, who is now Apple’s “vice president of special projects”.

Tim Cook unveils the Apple Watch in California last year.
Tim Cook unveils the Apple Watch in California last year. Fotografēt: Zuma/Rex

Has Tim Cook emerged from the shadow of Steve Jobs?

Few chief executives were as intimately connected to their companies as Jobs was with Apple, and Cook faced a tough battle to win over investors who feared he lacked the co-founder’s vision and showmanship.

Activist investors David Einhorn and Carl Icahn have tried to interfere with Cook’s management, but he has stood his ground. He’s also shown his steely side by axing Scott Forstall, the former head of its iOS mobile operating system, over the failed launch of the Apple Maps app, as well as replacing the head of the company’s stores, John Browett – the former Dixons boss – after less than a year in the job.

Jobs and Cook are “such different personalities”, says Milanesi, who has followed Apple for more than a decade. “The reception under Cook has been very positive: he is very impressive in operations and managing the product chain.”

Milanesi says Cook has also done a lot to make Apple feel like a more approachable brand. “With Jobs it was aspirational but somewhat untouchable and distant," viņa saka. “It seems much more open and accessible under Tim, and that’s important as they want to extend the product range to a wide section of consumers.

“His big test will be the Apple Watch, as it’s the first product to be launched under his leadership.”

Will Apple’s huge cash pile become a liability?

Apple is making much more money than it can spend, to the extent that it has built up a $178bn cash pile. It added $23bn to the coffers in the last quarter and nearly all of it is banked overseas. Taking it back to the US to return it to shareholders would incur a big tax bill.

To appease investors Apple has been buying back shares, but by borrowing against the cash rather than using the capital. It bought back $45bn of shares last year but hasn’t made much of a dent in the cash. It has $35bn of debt.

Blaber says Apple needs to maintain a large surplus to give it “the muscle and flexibility to invest in new categories”. But its latest and biggest acquisition – Dr Dre’s headphones and streaming business Beats Electronics – cost it $3bn.

The size of Apple’s cash holding has attracted the attention of politicians. Cook has told Congress the company will eventually bring it back onshore, but only when there is a “dramatic simplification of the corporate tax code” including a “reasonable tax on foreign earnings that allows the free flow of capital back to the US”.

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