“Apple investors weren’t thrilled about the lower-than-expected guidance for the 2018 second quarter, but they still have a lot to celebrate from the first-quarter earnings report,” Natalie Walters writes for The Motley Fool. “Apple reported four all-time records, including net income and overall revenue. The record-breaking results were fueled by record iPhone revenue, thanks to the higher prices on its smartphone lineup.”
“Apple sold 77.3 million iPhones during the last period; while that’s less than the same quarter last year, it’s also the highest ever for a 13-week quarter. Last year’s first quarter was 14 weeks long, and Apple sold 78.2 million iPhones,” Walters writes. “During the week of Dec. 24, a record number of customers bought or downloaded apps from the App Store, for a total $890 million spent in the seven-day period. In addition, customers spent $300 million on the App Store on Jan. 1, its highest-ever sales day since launching in 2008. [This record was outside the quarter, which ended on December 30, 2017.]”
“Apple’s overall revenue was also its highest recorded at $88.3 billion, a 12.7% increase from the same period last year. This past quarter’s revenue was about $10 billion more than Apple’s previous revenue record, set in the same period last year. This is significant, considering this quarter was a week shorter than the 14-week year-ago quarter,” Walters writes. “Apple also boasted its highest-ever net income at $20.1 billion, up $2.2 billion year over year. Diluted earnings per share were up about 16% to $3.80, also an all-time record.”
Read more in the full article here.
MacDailyNews Take: A strong, record-breaking quarter talked down by fomenters, the perpetually confused, and the Apple-hating FUDsters.
SEE ALSO:
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So much for worries over Apple’s iPhone X – February 1, 2018
MacDailyNews presents live notes from Apple’s Q118 conference call – February 1, 2018
Apple smashes Street with biggest quarter in company history – February 1, 2018
Wall Street rewards or punishes change. Even I know that.
Tim Cook is not going to win the Nobel Prize for Economics, that’s for sure.
But Chemistry is still on the table, turning bullshit into gold…l
Great numbers but unfortunately the market freaked on the low guidance numbers and external factors like interest rates increase as the economy starts showing signs of heating up.
Expect a lot of volatility for a while – we’re back to boom and bust.
Apple’s revenue guidance for the March 2018 quarter is up 17% versus March 2017 and would be an all-time record for the March quarter, beating the unbelievable March 2015 quarter By $4 billion.
How can this be interpreted as low guidance by anyone other than crazy Wall Street analysts who expect Apple to defy the laws of reality every single quarter?
Pump and Dump.
Many economists, especially fiscally conservative ones, cautioned against the Trumpian trickle down ploy to boost short term stock prices. Their predictions are coming true: increased volatility and a ballooning of federal debt.
You won’t hear Trump bragging about his supposed positive influence on the Dow index anymore. He is just trying to figure out how to retire before the credit payments are due.
Apparently, those records weren’t good enough for Wall Street. Apple may need to copy Amazon and Boeing’s business models if Apple shareholders are to expect any gains whatsoever. Certain companies are praised no matter what they do and others, such as Apple, are constantly being negatively criticized for not being up to par.
I’d seen articles by a couple of brokerages telling investors to steer clear of Apple for the next six months or so. They’re happily telling investors don’t buy Apple stock unless they want to lose money. Nice advice, huh?
AAPL is on 7.5% off it’s all time high stock price. . . and gaining.
2 billion offer for the company, causing a jump in the price of the stock. Icahn and Walters were friends and had discussed stocks in the past. “If Icahn had told Walters to buy something and Walters knew Icahn was involved in a deal or mergers and acquisitions deal with that company and he bought on that information,” Bachner said.