Seeking Alpha

Cook: Apple TV did more than $1B in FY13 sales

  • Apple TV did over $1B in FY13 sales, says Tim Cook at Apple's (AAPL -0.3%) annual meeting. "It's a little more difficult to call it a hobby these days."
  • With Apple TV set-tops typically going for $99, Horace Dediu thinks Cook's remarks imply 10M+ unit sales, up from 2012's 6M. The business still accounts for only a small percentage of Apple's total sales (FY13 revenue was $170.9B).
  • Cook's comments come amid reports of a pending Apple TV refresh that will add game controller support and access to select pay-TV content.
  • As expected, all of Apple's shareholder proposals were approved, and all proposals from other shareholders were rejected. Carl Icahn withdrew his non-binding Apple buyback proposal earlier this month.
  • Update: Apple tells re/code Cook's Apple TV figure includes content sales, and refers to Apple's FY13 (ended Sep. 13).
Comments (30)
  • Matt-Man
    , contributor
    Comments (523) | Send Message
     
    AppleTV with A7 with bluetooth controllers and Appstore could bring nice new revenue stream from games alone, quite a few current games from iPads could be easily adapted.
    28 Feb, 01:49 PM Reply Like
  • inside man 55
    , contributor
    Comments (712) | Send Message
     
    I was thinking if they added biometric sensors you can directly purchase from the bluetooth controller. Why not?
    28 Feb, 01:51 PM Reply Like
  • Humble Eagles
    , contributor
    Comments (1473) | Send Message
     
    They could go a lot of different ways here. I think everyone expects a new product soon, and the rebate on ATV for the next week makes me think it is very soon. Remember, when they announce new product categories, there can be a large gap between the product announcement and delivery, even a number of months. That gives developers time to write software. Several points interest me: (1) - They seem to be holding off on IOS 7.1 for something. (2) - Lots of chatter about payments and ATV. (3) - Lots of chatter about wearables. (4) - They bought a ton of stock at $500, (like a year's worth almost on their program), which makes me think that they think it was a trough for the foreseeable future. We will see, but Apple could get interesting again soon.
    28 Feb, 04:19 PM Reply Like
  • netflixlong
    , contributor
    Comments (23) | Send Message
     
    Apple loyalists have been in the "We will see, but Apple could get interesting again soon" holding pattern for about sixteen months now, being overweight in AAPL while watching GOOG and FB set the world on fire. Imagine what Apple's stock price would be if Bezos or Zuckerberg were in charge.
    1 Mar, 03:16 AM Reply Like
  • JUDOKA
    , contributor
    Comments (406) | Send Message
     
    The market is not impressed with the meeting content thus far(1:49 PM EST).
    28 Feb, 01:50 PM Reply Like
  • doc47
    , contributor
    Comments (1018) | Send Message
     
    I'm with the market. This is just more "white noise" from Cook et al. There is nothing reported here to move the needle on the stock. I'm holding and hoping, but getting more frustrated watching the Dow and S&P hit new highs while apple is 100 points lower than it was when the dow was at 1300.
    28 Feb, 02:14 PM Reply Like
  • nguyenvanphuoc
    , contributor
    Comments (373) | Send Message
     
    "I'm holding and hoping, but getting more frustrated watching the Dow and S&P hit new highs while apple is 100 points lower than it was when the dow was at 1300. "

     

    The great thing about living in a free society is that you are actually free to do what you want.

     

    So, you are perfectly free to sell your Apple shares and buy a Dow Index, or an S&P index... of course you're also free to complain about how AAPL is not outperforming the markets at this point in time, but I'd question the effectiveness of that strategy.
    28 Feb, 02:27 PM Reply Like
  • doc47
    , contributor
    Comments (1018) | Send Message
     
    The fact is that I've done almost exactly that and my actions have out performed The buy only Apple and Apple Uber alles crowd by better than 100% for a long time!!
    28 Feb, 03:32 PM Reply Like
  • Rich in NJ
    , contributor
    Comments (29) | Send Message
     
    Gaming the shareholders meeting. Nothing really to see here.
    28 Feb, 04:03 PM Reply Like
  • Kamil Kolacek
    , contributor
    Comments (749) | Send Message
     
    There never is at the annual shareholder meeting. It all about the new product launch / announcements.
    1 Mar, 12:04 PM Reply Like
  • gensearch2
    , contributor
    Comments (1444) | Send Message
     
    Apple shareholder meetings are always boring.
    28 Feb, 01:56 PM Reply Like
  • ispank
    , contributor
    Comments (568) | Send Message
     
    All corporations meetings are boring, unless you are in the board yourself!.
    28 Feb, 03:41 PM Reply Like
  • gensearch2
    , contributor
    Comments (1444) | Send Message
     
    I agree with that. Though I here Buffet puts out a nice spread for the Berkshire Hathaway annual shareholders meetings.
    2 Mar, 10:23 AM Reply Like
  • nick1200
    , contributor
    Comments (28) | Send Message
     
    Apple TV unit sales have been steadily increasing since 2010, looking forward to seeing how this years refresh helps Apple integrate into this space even more. Looks like Apple may also announce mobile payment processing later this year, if that happens look for AAPL shares to breakout.
    28 Feb, 01:58 PM Reply Like
  • iOS7 needs to revolutinize
    , contributor
    Comments (74) | Send Message
     
    Are they expected to announce a div increase today?
    28 Feb, 02:02 PM Reply Like
  • Kamil Kolacek
    , contributor
    Comments (749) | Send Message
     
    No, but they will update the capital return plan within the next 60 days as stated by Cook today.
    1 Mar, 12:08 PM Reply Like
  • Humble Eagles
    , contributor
    Comments (1473) | Send Message
     
    Interesting. You know, Apple does more business in Apple TV boxes alone than Pandora does in company wide revenues! Yet, Mr. Market sells Apple down to less than a 10X cash adjusted PE, and buys P to a cash adjusted 200+X! Maybe Apple has a long way to climb, or P has a long way to fall, but this is just silly. Many other examples out there.
    28 Feb, 02:09 PM Reply Like
  • BornIn87
    , contributor
    Comments (103) | Send Message
     
    Agreed. Pandora doesn't have a prayer to experience the sort of growth its share price reflects.
    28 Feb, 02:15 PM Reply Like
  • aardvark3
    , contributor
    Comments (394) | Send Message
     
    You said it,Humble!
    28 Feb, 04:10 PM Reply Like
  • NWCats404
    , contributor
    Comments (227) | Send Message
     
    Good call, HE. I think there's a good chance iTunes Radio is bigger than Pandora in 10 years, mainly due to overseas business and better content deals. Apple's numbers are so staggeringly large that many people dismiss AppleTV, iPod, Mac, etc., when in reality they're huge businesses in and of themselves.
    28 Feb, 04:42 PM Reply Like
  • Sterling11
    , contributor
    Comments (23) | Send Message
     
    If you don't like the stock or what Tim Cook does why not sell the stock.
    28 Feb, 03:37 PM Reply Like
  • netflixlong
    , contributor
    Comments (23) | Send Message
     
    It would seem to me that investors who bought AAPL at $600 or more are a bit reluctant to sell it at its current price. They f***** up; they trusted Cook! (to paraphrase a line from "Animal House"). I think ousted Groupon CEO Andrew Mason would be more of an inspirational, motivational leader than Tim Cook- TC simply doesn't have the goods.
    1 Mar, 03:16 AM Reply Like
  • myron d stechman
    , contributor
    Comments (8) | Send Message
     
    Apple better do some thig fast or there will be worms in the apple.
    28 Feb, 04:03 PM Reply Like
  • jbcm
    , contributor
    Comments (234) | Send Message
     
    I like the idea to pay with my Iphone and with less cost for me and the shop/restaurant for example and that Apple of course can get some small money from all transactions!I also think that if the pay system also work at value exchange there is a lot of money also to earn for me and Apple if they can get less cost than it cost today.The banks rip off my money now! It can be done with a value account and get done with help of the Iphone system soon I suppose!Long Apple now 1111 Apple shares less one share!!! (smile!)
    28 Feb, 04:17 PM Reply Like
  • Riverrun
    , contributor
    Comments (219) | Send Message
     
    Why is it that when I've had three glasses of wine, instead of one or two as the norm, I want to find a Michael Blair post and make a comment...but I see I am on the wrong post....just as well...call me waiting for the Div.
    28 Feb, 08:52 PM Reply Like
  • John Court
    , contributor
    Comments (132) | Send Message
     
    <<<With Apple TV set-tops typically going for $99, Horace Dediu thinks Cook's remarks imply 10M+ unit sales, up from 2012's 6M.>>>

     

    The $1bn included content sales as well. So, 10M units may be high.
    1 Mar, 12:53 AM Reply Like
  • netflixlong
    , contributor
    Comments (23) | Send Message
     
    Cook needs to put his pro Gay rights agenda on hold and at least attempt to restore AAPL to its former place as the world's #1 tech company. Cook was handed the keys to the kingdom and rolled snake-eyes with the opportunity. He's proven to be more of a Lieutenant than CEO, whereas someone like Marissa Mayer is far more qualified to lead AAPL. Hell, Carol Bartz is a stronger leader than Cook not to mention Andrew Mason.
    1 Mar, 03:04 AM Reply Like
  • jakexb
    , contributor
    Comments (60) | Send Message
     
    I can't tell if you're trolling of not. You've mentioned Andrew Mason as a potential CEO for Apple in multiple comments. Groupon's business plan is a complete disaster based on hype and wishful thinking. Carol Bartz, the CEO who ran Yahoo into the ground and destroyed every acquisition the company made?

     

    Apple's only problem right now is sentiment. When it shifts, look out-- people love a good comeback story.
    2 Mar, 03:30 PM Reply Like
  • netflixlong
    , contributor
    Comments (23) | Send Message
     
    Cook needs to put his pro Gay rights agenda on hold and at least attempt to restore AAPL to its former place as the world's #1 tech company. Cook was handed the keys to the kingdom and rolled snake-eyes with the opportunity. He's proven to be more of a Lieutenant than CEO, whereas someone like Marissa Mayer is far more qualified to lead AAPL. Hell, Carol Bartz is a stronger leader than Cook.
    1 Mar, 03:16 AM Reply Like
  • Warren Buffet007
    , contributor
    Comments (934) | Send Message
     
    I hope that the next generation of iPhone will improve the writing input, because the actual iphone keyboard is a disaster, because currently I write in three languages and always I have to switch manually the language! I had the Sony Z two years ago and this one recognized only two words after writing automatically the language! .
    I don’t know what makes Apple with so much money, but the view is not that does nothing effective to the most simple! I hope there not ended like big ones before IBM ect., the danger is always there!.
    1 Mar, 05:37 AM Reply Like
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