Cook takes stage at iPad event; 1M apps in App Store

Tim Cook (AAPL -0.5%) notes there are now 1M apps in the App Store (up from 900K in June), and that cumulative downloads have topped 60B after passing 50B in May. 64% of iOS devices are said to be running iOS 7. (live blog, webcast)

Cook also mentions 20M iOS 7 users have listened to iTunes Radio, and have collectively listened to 1B songs. Pandora (P -1.4%), which had 72.7M active listeners at the end of September and was trading lower going into the event, hasn't moved much on the disclosure.

Software chief Craig Federighi is unveiling Mac OS X Mavericks, details for which were previously shared in June at WWDC. He claims the OS' improved power efficiency can boost battery life by up to an hour when Web browsing, and up to 90 minutes when watching iTunes video.

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Comments (11)
  • Kyle Spencer
    , contributor
    Comments (1247) | Send Message
    The knee-jerk reaction is going to be sell the news here. Resist the temptation. Apple is making too many of the right moves not to kill it at Christmas.
    22 Oct 2013, 01:41 PM Reply Like
  • calikym
    , contributor
    Comments (257) | Send Message
    We have converted everything in our house to Apple products where possible. I'm all in for Apple because I have used many different products and nothing comes even close to the hassle free, beautifully designed Apple products. And IF you have problems, the Apple stores have real time techs on staff to help. It's just so much easier. Ideal business model for busy peeps like us. You just schedule time at the many retail stores. There are so many reasons to buy Apple products. My current inventory of Apple products includes: 2 original iPods, 3 Nanos, 3 iTouch, 2 iPad, 2 MacBook, 2 Apple TV, 2 iPhones and 1 Apple network Box (our most recent purchase). Oh, and we have the Nest (designed by an Apple guy and seriously incredible!). The Apple TV remote control is small and simple to use (you'd be shocked) and the Apple TV box is a total deal. They barely market the Apple TV box (most peeps don't even understand what it is!) and yet it is a must have. @Kyle - peeps like me, with money and kids, buy Apple products because they are simple to use and the operating system is by far superior. Everything works together unlike so many other products on the market. I can't even remember the last time I took my laptop out of the case (my iPad is my best friend). You nailed it when you said, "Apple is making too many of the right moves not to kill it at Christmas". They are begging us for iPhones this Christmas.... Once you go Mac, you never go back.
    22 Oct 2013, 02:00 PM Reply Like
  • HuntingtonJones
    , contributor
    Comment (1) | Send Message
    Calikym, are you affiliated with Apple?
    22 Oct 2013, 02:48 PM Reply Like
  • Rappenco
    , contributor
    Comments (698) | Send Message
    As this is potentially a knee jerk sell-off; it might be a good idea to sell some cash secured near term puts. Look at the Nov 1 and Nov 8, 500 puts which command a sizeable premium due to the volatility.
    Be ready to own the stock at $500 minus your premium which is a great entry point.
    22 Oct 2013, 02:58 PM Reply Like
  • nfultz1
    , contributor
    Comments (68) | Send Message
    One billion songs at an average of 3.5 minutes per song is roughly 58 million listener hours over about a one month time period. That's about 4% of the 1.36 billion listener hours Pandora had in September. That number could lead to a M/M decline in listener hours for Pandora. I'm curious how that will affect their stock price.
    22 Oct 2013, 03:56 PM Reply Like
  • dgulick
    , contributor
    Comments (2379) | Send Message
    P jumped after this was announced, the stock had already priced in a much larger hit from iTR.
    22 Oct 2013, 05:09 PM Reply Like
  • Mr. Durden
    , contributor
    Comments (25) | Send Message
    If it was priced in wouldn't be testing its all time highs.
    22 Oct 2013, 06:07 PM Reply Like
  • nfultz1
    , contributor
    Comments (68) | Send Message
    Yeah, I'm not sure an actual M/M decline has been priced in. Most articles and commentary I see are concerned about whether Pandora can survive with Apple entering the market. However, I think the real near term risk for Pandora's share price is that Apple is just successful enough to cause Pandora to either significantly slow listener growth or show signs of decline. I guess we'll see over the next month or two.
    23 Oct 2013, 08:58 AM Reply Like
  • Clayton Rulli
    , contributor
    Comments (3433) | Send Message
    It might be even less if you guess some users skipped over some songs after a few seconds!
    23 Oct 2013, 09:33 AM Reply Like
  • a_dotterweich
    , contributor
    Comment (1) | Send Message
    With the stumbles of Microsoft, the evolution of Apple, other that MS Office, I am switching all my personal purchases to Apple - especially with MAC OS X free to Mac Users! I am very disappointed with Windows 8/8.1 and Surface prices and limitations...
    22 Oct 2013, 04:00 PM Reply Like
  • rrosey2
    , contributor
    Comments (885) | Send Message
    I don't understand all this wheeling and dealing with puts and calls.


    If you believe, as I do, that a year from now the stock will be at between $500 and $1000; why throw away all the costs of puts and calls?


    All the premiums are losses.


    The money I have in the bank yields me nothing, whereas Apple pays a decent dividend with prospects of growth in the stock and the dividend; not to mention buyback.
    22 Oct 2013, 05:53 PM Reply Like
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