Apple Unveils M2, Taking the Breakthrough Performance and Capabilities of M1 Even Further

M2 delivers new levels of power-efficient performance and capabilities to the completely redesigned MacBook Air and updated 13-inch MacBook Pro

Apple® today announced M2, beginning the next generation of Apple silicon designed specifically for the Mac®. Built using second-generation 5-nanometer technology, M2 takes the industry-leading performance per watt of M1 even further with an 18 percent faster CPU, a 35 percent more powerful GPU, and a 40 percent faster Neural Engine. ¹ It also delivers 50 percent more memory bandwidth compared to M1, and up to 24GB of fast unified memory. M2 brings all of this — plus new custom technologies and greater efficiency — to the completely redesigned MacBook Air® and updated 13-inch MacBook Pro®.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220606005752/en/

The M2 chip begins the next generation of Apple silicon designed specifically for the Mac. (Photo: Business Wire)

"M2 starts the second generation of M-series chips and goes beyond the remarkable features of M1," said Johny Srouji, Apple's senior vice president of Hardware Technologies. "With our relentless focus on power-efficient performance, M2 delivers a faster CPU, GPU, and Neural Engine. And along with higher memory bandwidth and new capabilities like ProRes acceleration, M2 continues the tremendous pace of innovation in Apple silicon for the Mac."

More Transistors, More Memory

The system-on-a-chip (SoC) design of M2 is built using enhanced, second-generation 5-nanometer technology, and consists of 20 billion transistors — 25 percent more than M1. The additional transistors improve features across the entire chip, including the memory controller that delivers 100GB/s of unified memory bandwidth — 50 percent more than M1. And with up to 24GB of fast unified memory, M2 can handle even larger and more complex workloads.

Faster Power-Efficient Performance

The new CPU features faster performance cores paired with a larger cache, while the efficiency cores have been significantly enhanced for even greater performance gains. Together, they deliver 18 percent greater multithreaded performance than M1, so M2 can rip through CPU-intensive tasks using very little power, like creating music with layers of effects or applying complex filters to photos. ¹ Compared with the latest 10-core PC laptop chip, the CPU in M2 provides nearly twice the performance at the same power level. And, M2 delivers the peak performance of the PC chip while using just a quarter of the power. ² When compared to the latest 12-core PC laptop chip — which needs dramatically more power to deliver an increase in performance and is therefore found in thicker, hotter, more noisy systems with less battery life — M2 provides nearly 90 percent of the peak performance of the 12-core chip while using just one-fourth the power. ³

M2 also features Apple's next-generation GPU with up to 10 cores — two more than M1. Combined with a larger cache and higher memory bandwidth, the 10-core GPU delivers a big boost in graphics performance, bringing up to 25 percent higher graphics performance than M1 at the same power level, and up to 35 percent better performance at its max power. ¹ Compared with the integrated graphics of the latest PC laptop chip, the GPU in M2 delivers 2.3x faster performance at the same power level, and matches its peak performance using a fifth of the power. ² The higher performance per watt from M2 enables systems to have exceptional battery life, and run cool and quietly, even when playing graphics-intensive games or editing massive RAW images.

Apple's Next-Generation Custom Technologies

M2 brings Apple's latest custom technologies to the Mac, enabling new capabilities, better security, and more:

The Neural Engine can process up to 15.8 trillion operations per second — over 40 percent more than M1.
The media engine includes a higher-bandwidth video decoder, supporting 8K H.264 and HEVC video.
Apple's powerful ProRes™ video engine enables playback of multiple streams of both 4K and 8K video.
Apple's latest Secure Enclave provides best-in-class security.
A new image signal processor (ISP) delivers better image noise reduction.

macOS, M2, and Apps

macOS® has been designed for Apple silicon, and the combination of macOS Monterey and the powerful new M2 delivers breakthrough performance and productivity for users. Mac computers powered with Apple silicon have access to the largest collection of apps ever for Mac, including iPhone® and iPad® apps that can run on Mac, and universal apps that unlock the full power of M-series chips.

macOS Ventura, coming this fall, will also take full advantage of M2, bringing new features including Stage Manager™, and powerful new capabilities with Continuity Camera and Handoff® in FaceTime®. macOS Ventura also includes big updates to Safari®, Mail, Messages, Spotlight®, and more.

Apple Silicon and the Environment

The power-efficient performance of M2 helps the new MacBook Air and 13-inch MacBook Pro meet Apple's high standards for energy efficiency. Today, Apple is carbon neutral for global corporate operations, and by 2030, plans to have net-zero climate impact across the entire business, which includes manufacturing supply chains and all product life cycles. This means that every chip Apple creates, from design to manufacturing, will be 100 percent carbon neutral.

¹ Testing conducted by Apple in May 2022 using preproduction 13-inch MacBook Pro systems with Apple M2, 8-core CPU, 10-core GPU, and 16GB of RAM; and production 13-inch MacBook Pro systems with Apple M1, 8-core CPU, 8-core GPU, and 16GB of RAM. Performance measured using select industry‑standard benchmarks. Performance tests are conducted using specific computer systems and reflect the approximate performance of MacBook Pro.
² Testing conducted by Apple in May 2022 using preproduction 13-inch MacBook Pro systems with Apple M2, 8-core CPU, 10-core GPU, and 16GB of RAM. Performance measured using select industry‑standard benchmarks. 10-core PC laptop chip performance data from testing Samsung Galaxy Book2 360 (NP730QED-KA1US) with Core i7-1255U and 16GB of RAM. Performance tests are conducted using specific computer systems and reflect the approximate performance of MacBook Pro.
³ Testing conducted by Apple in May 2022 using preproduction 13-inch MacBook Pro systems with Apple M2, 8-core CPU, 10-core GPU, and 16GB of RAM. Performance measured using select industry‑standard benchmarks. 12-core PC laptop chip performance data from testing MSI Prestige 14Evo (A12M-011) with Core i7-1260P and 16GB of RAM. Performance tests are conducted using specific computer systems and reflect the approximate performance of MacBook Pro.

Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple's five software platforms — iOS, iPadOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple's more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it.

NOTE TO EDITORS: For additional information visit Apple Newsroom ( www.apple.com/newsroom ), or call Apple's Media Helpline at (408) 974-2042.

© 2022 Apple Inc. All rights reserved. Apple, the Apple logo, and Mac, MacBook Air, MacBook Pro, macOS, ProRes, iPhone, iPad, Stage Manager, Handoff, FaceTime, Safari, and Spotlight are trademarks of Apple. Other company and product names may be trademarks of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220606005752/en/

Todd Wilder
Apple
wilder@apple.com
408-974-8335

News Provided by Business Wire via QuoteMedia

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Apple announces Chief Financial Officer transition

Apple® today announced that Chief Financial Officer Luca Maestri will transition from his role on January 1, 2025. Maestri will continue to lead the Corporate Services teams, including information systems and technology, information security, and real estate and development, reporting to Apple CEO Tim Cook. As part of a planned succession, Kevan Parekh, Apple's Vice President of Financial Planning and Analysis, will become Chief Financial Officer and join the executive team.

"Luca has been an extraordinary partner in managing Apple for the long term. He has been instrumental in improving and driving the company's financial performance, engaging with shareholders, and instilling financial discipline across every part of Apple. We're fortunate that we will continue to benefit from the leadership and insight that have been the hallmark of his tenure at the company," said Tim Cook, Apple's CEO.

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BlackBerry Extends Partnership with Leading Managed Security Services Provider to Ensure SMBs are Set Up for Cyber Success

BlackBerry Limited (NYSE: BB; TSX: BB) and Solutions Granted today announced an extended partnership, naming the leading cybersecurity services provider a Master Managed Security Services Provider (MSSP), enabling it to better scale and meet the growing demand for cybersecurity services among small and medium-sized businesses (SMBs).

"Solutions Granted has been honored as BlackBerry MSSP Partner of the Year for North America for five consecutive years and we're excited to take our partnership to the next level by crowning them as our top Master MSSP," said Adam Enterkin , Chief Revenue Officer, Americas, BlackBerry Cybersecurity. "BlackBerry is dedicated to increasing its focus on MSSP partners to ensure they're set up for success. Endpoints are proliferating, and so are the cyberattacks against them. Our extended partnership with Solutions Granted will help hundreds of small and mid-size businesses continuously adapt to an ever-changing threat landscape."

As a 'Master MSSP', Solutions Granted will be better positioned to help its own partners to deliver Managed Detection and Response (MDR) and other Managed Security Services to their mid-market and SMB clients. In partnership with BlackBerry and heavily leveraging the Cylance® AI-powered portfolio, Solutions Granted helps thousands of clients secure their environments and prevent attacks. By working with Solutions Granted, MSSPs and managed service providers (MSPs) can offer industry leading managed security, without making the significant investment of building out their own security operations center (SOC).

CylanceENDPOINT™ is among the solutions it helps managed service providers (MSPs) deploy to clients, either as individual managed services or integrated into a SOC-as-a-service offering.

"BlackBerry's support for our business model provides the flexibility we need to continue to meet customer demand and provide the best possible product support for their business needs," said Michael E. Crean , Chief Executive Officer, Solutions Granted. "We value the investment BlackBerry is making in our partnership and know this will go a long way in setting up our customers for success."

To learn more about BlackBerry MSSP Partners, visit blackberry.com/us/en/partners/mssp-partners .

About BlackBerry

BlackBerry (NYSE: BB; TSX: BB) provides intelligent security software and services to enterprises and governments around the world. The company secures more than 500M endpoints including over 215M vehicles. Based in Waterloo, Ontario , the company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety and data privacy solutions, and is a leader in the areas of endpoint management, endpoint security, encryption, and embedded systems. BlackBerry's vision is clear - to secure a connected future you can trust.

BlackBerry. Intelligent Security. Everywhere.

For more information, visit BlackBerry.com and follow @BlackBerry.

Trademarks, including but not limited to BlackBerry and EMBLEM Design are the trademarks or registered trademarks of BlackBerry Limited, and the exclusive rights to such trademarks are expressly reserved. All other trademarks are the property of their respective owners. BlackBerry is not responsible for any third-party products or services.

About Solutions Granted Inc.

Solutions Granted is a Master Managed Security Services Provider (Master MSSP). They offer cybersecurity solutions to North American MSPs and MSSPs and are committed to delivering solutions without requiring minimums, commitments, or long-term contracts. They proudly offer many security layers as well as a 24x7 U.S.-based Security Operations Center (SOC). Over the past several years, Solutions Granted has emerged as a clear leader in the channel, by winning countless awards including the CRN Security 100 list, Top 100 MSSP List, Top Global MSSP List, and BlackBerry MSSP Partner of the Year. Learn more at https://www.SolutionsGranted.com

Media Contacts:

BlackBerry Media Relations

+1 (519) 597-7273

mediarelations@BlackBerry.com

View original content to download multimedia: https://www.prnewswire.com/news-releases/blackberry-extends-partnership-with-leading-managed-security-services-provider-mssp-to-ensure-smbs-are-set-up-for-cyber-success-301803800.html

SOURCE BlackBerry Limited

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Mobile Investing in Australia

After lagging behind for a prolonged period, Australia's tech sector is ramping up at an accelerated pace. The tech sector is now equivalent to 8.5 percent of the country's GDP as of the end of 2021, an increase of 26 percent since the onset of COVID-19 through June 2021 and a massive 79 percent increase over the past five years. Tech contributes AU$167 billion to the Australian economy, trailing only the mining (AU$205 billion) and financial/insurance (AU$169 billion) sectors.

Australia's characteristically resilient economy — which had not experienced a recession in nearly 30 years prior to COVID-19 lockdowns — has provided a sturdy backdrop for its growing tech sector. The growth in the tech sector’s contribution to the GDP has outpaced average growth of other industries by more than 400 percent, a gain partly attributable to accelerated digital technology adoption during the pandemic.

This dramatic expansion is largely in response to Australia's need to catch up to the rest of the world and assert itself in the global tech marketplace. Should the tech sector continue to grow at its current rate it will eventually surpass the relative GDP contribution of the long dominant mining sector. This will also complete the process of bringing Australia more in line with other western economies such as the UK, and notably Canada, which is comparable to Australia in terms of its dominant mining and agricultural industries.

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Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In millions, except number of shares, which are reflected in thousands, and per-share amounts)

	Three Months Ended					Nine Months Ended
	June 29, 2024		July 1, 2023			June 29, 2024		July 1, 2023
Net sales:
Products	$	61,564	$	60,584		$	224,908	$	230,901
Services		24,213		21,213			71,197		62,886
Total net sales ⁽¹⁾		85,777		81,797			296,105		293,787
Cost of sales:
Products		39,803		39,136			140,667		146,696
Services		6,296		6,248			18,634		18,370
Total cost of sales		46,099		45,384			159,301		165,066
Gross margin		39,678		36,413			136,804		128,721

Operating expenses:
Research and development		8,006		7,442			23,605		22,608
Selling, general and administrative		6,320		5,973			19,574		18,781
Total operating expenses		14,326		13,415			43,179		41,389

Operating income		25,352		22,998			93,625		87,332
Other income/(expense), net		142		(265	)		250		(594	)
Income before provision for income taxes		25,494		22,733			93,875		86,738
Provision for income taxes		4,046		2,852			14,875		12,699
Net income	$	21,448	$	19,881		$	79,000	$	74,039

Earnings per share:
Basic	$	1.40	$	1.27		$	5.13	$	4.69
Diluted	$	1.40	$	1.26		$	5.11	$	4.67
Shares used in computing earnings per share:
Basic		15,287,521		15,697,614			15,401,047		15,792,497
Diluted		15,348,175		15,775,021			15,463,175		15,859,263

⁽¹⁾ Net sales by reportable segment:
Americas	$	37,678	$	35,383		$	125,381	$	122,445
Europe		21,884		20,205			76,404		71,831
Greater China		14,728		15,758			51,919		57,475
Japan		5,097		4,821			19,126		18,752
Rest of Asia Pacific		6,390		5,630			23,275		23,284
Total net sales	$	85,777	$	81,797		$	296,105	$	293,787

⁽¹⁾ Net sales by category:
iPhone	$	39,296	$	39,669		$	154,961	$	156,778
Mac		7,009		6,840			22,240		21,743
iPad		7,162		5,791			19,744		21,857
Wearables, Home and Accessories		8,097		8,284			27,963		30,523
Services		24,213		21,213			71,197		62,886
Total net sales	$	85,777	$	81,797		$	296,105	$	293,787

Apple Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In millions, except number of shares, which are reflected in thousands, and par value)

	June 29, 2024			September 30, 2023
ASSETS:
Current assets:
Cash and cash equivalents	$	25,565		$	29,965
Marketable securities		36,236			31,590
Accounts receivable, net		22,795			29,508
Vendor non-trade receivables		20,377			31,477
Inventories		6,165			6,331
Other current assets		14,297			14,695
Total current assets		125,435			143,566

Non-current assets:
Marketable securities		91,240			100,544
Property, plant and equipment, net		44,502			43,715
Other non-current assets		70,435			64,758
Total non-current assets		206,177			209,017
Total assets	$	331,612		$	352,583

LIABILITIES AND SHAREHOLDERS' EQUITY:
Current liabilities:
Accounts payable	$	47,574		$	62,611
Other current liabilities		60,889			58,829
Deferred revenue		8,053			8,061
Commercial paper		2,994			5,985
Term debt		12,114			9,822
Total current liabilities		131,624			145,308

Non-current liabilities:
Term debt		86,196			95,281
Other non-current liabilities		47,084			49,848
Total non-current liabilities		133,280			145,129
Total liabilities		264,904			290,437

Commitments and contingencies

Shareholders' equity:
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively		79,850			73,812
Accumulated deficit		(4,726	)		(214	)
Accumulated other comprehensive loss		(8,416	)		(11,452	)
Total shareholders' equity		66,708			62,146
Total liabilities and shareholders' equity	$	331,612		$	352,583

Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In millions)

	Nine Months Ended
	June 29, 2024			July 1, 2023
Cash, cash equivalents and restricted cash, beginning balances	$	30,737		$	24,977

Operating activities:
Net income		79,000			74,039
Adjustments to reconcile net income to cash generated by operating activities:
Depreciation and amortization		8,534			8,866
Share-based compensation expense		8,830			8,208
Other		(1,964	)		(1,651	)
Changes in operating assets and liabilities:
Accounts receivable, net		6,697			7,609
Vendor non-trade receivables		11,100			13,111
Inventories		41			(2,570	)
Other current and non-current assets		(5,626	)		(4,863	)
Accounts payable		(15,171	)		(16,790	)
Other current and non-current liabilities		2			2,986
Cash generated by operating activities		91,443			88,945

Investing activities:
Purchases of marketable securities		(38,074	)		(20,956	)
Proceeds from maturities of marketable securities		39,838			27,857
Proceeds from sales of marketable securities		7,382			3,959
Payments for acquisition of property, plant and equipment		(6,539	)		(8,796	)
Other		(1,117	)		(753	)
Cash generated by investing activities		1,490			1,311

Financing activities:
Payments for taxes related to net share settlement of equity awards		(5,163	)		(5,119	)
Payments for dividends and dividend equivalents		(11,430	)		(11,267	)
Repurchases of common stock		(69,866	)		(56,547	)
Proceeds from issuance of term debt, net		—			5,228
Repayments of term debt		(7,400	)		(11,151	)
Repayments of commercial paper, net		(2,985	)		(5,971	)
Other		(191	)		(508	)
Cash used in financing activities		(97,035	)		(85,335	)

Increase/(Decrease) in cash, cash equivalents and restricted cash		(4,102	)		4,921
Cash, cash equivalents and restricted cash, ending balances	$	26,635		$	29,898

Supplemental cash flow disclosure:
Cash paid for income taxes, net	$	19,230		$	7,020

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