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.
Rogue advisers have caused savers to lose hundreds of thousands of pounds after being abandoned to a “Wild West” of pension rules, according to a Sunday Times report. Its report shows how some advisers have exploited the outdated laws and loopholes to lure unassuming investors into high-risk products, leaving them unprotected when dodgy bets have gone […]
Fund manager Miton has surpassed £4.5bn in assets under management as it records profit and revenue growth for the first six months of the year. In the same period the previous year, Miton reported £3.3bn AUM. At the end of August, AUM had risen to £4.8bn. Miton reported profit before tax for the six months […]
IFA consolidator AFH has bought the client bank of Salisbury-based firm Emery Little for a maximum price of £1.6m After the deal, Derek Gibbons will join AFH as an adviser while Brian Little will retire with his clients moving to AFH. AFH will initially pay £870,000 with the remaining sum paid over 26 months, subject […]