Apple recently announced the highest-ever recorded quarterly net profit ($18bn), with the sale of 74.4 million iPhones helping the company deliver $74.6bn of revenue for the quarter ending December 2014. These sales were largely driven by strong demand for the new iPhone 6 and iPhone 6 Plus. Highlights included Chinese iPhone sales doubling year-on-year and unit growth of 44% in the US — supposedly a well-penetrated market. Apple ended the quarter with $178bn in cash on its balance sheet, having generated a staggering $30bn in free cash flow during the quarter.
At Neptune, we have been long-term believers in the Apple story, and continue to hold the stock in a number of our portfolios based on the company’s long-term growth prospects. This is predicated on our belief that Apple has proved thus far that it can — unusually for a consumer electronics company — maintain high margins for a sustained period of time, even as adoption of new technology slows down and competitors produce similar-specification products.
Advice network Intrinsic is funding a 58-week training programme through the Quilter Financial Adviser School to get more get more advisers to join its ranks. The course includes specific Intrinsic training throughout the core QFAS programme and means advisers will be trained on Intrinsic systems and processes. It is open to any student who will […]
Influential think tank the Institute for Fiscal Studies has added to pressure on the government from the pensions industry not to restrict tax breaks ahead of the Budget later this month. The IFS says it would be a “step in the wrong direction” to resitrct pension tax breaks on high earners, even though it could […]
Advice firm consolidator AFH is looking to raise £15m to fund more acquisitions by offering new shares in the company. It will sell new ordinary shares in the company at 370p a share in a quickfire offering, with the proceeds used to “execute the company’s acquisition pipeline”, AFH said in a stock market announcement today. […]