Men and fatherhood, sex equality
The Liberal Democrats have called on the Government to provide the public with more information about auto-enrolment in the wake of imminent contribution rate rise. From April this year, employees must contribute a minimum of 3 per cent of their salary, increasing to 5 per cent from next April. While currently only around 10 per […]
Fidelity International president Brian Conroy will soon leave the business for the US company the asset manager was spun out from. Conroy’s role at Fidelity Investments, which is controlled by the same family that owns a large stake in Fidelity International, has not yet been disclosed, but he will be leaving his current role at […]
Aviva Investors has raised concerns over the FCA’s powers to take control of funds when they need to halt trading, following the regulator’s reviews into the performance of property funds in the aftermath of the Brexit vote. More than £18bn of assets in commercial property funds, including those from Aviva, Standard Life Investments, M&G, and […]
The FCA continues to engage with the asset management industry on new European regulations as questions remain over how firms should report costs and charges. After over a month since Mifid II and Priips came into force, concerns have been raised on how fund fees, in particular transaction costs, should be calculated under the two […]
By Ali Unwin, head of technology sector research
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.
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