“Apple shares soared after the company on Tuesday reported better-than-expected earnings and revenue for the last quarter,” Michael Bloom reports for CNBC. “Apple’s iPhone sales were slightly less then expected.”

MacDailyNews Take: “Apple’s iPhone sales were slightly less then expected” by analysts, many of whom bought into or used specious reports that erroneously claimed that iPhone X was “too expensive” and “not selling well,” thereforeo their randomly-generated iPhone unit sales guesswork was wrong as usual. TFTFY.

Bloom shares a wrap of all the major analyst opinion going out to Wall Street pros on Wednesday. Here are a few snippets:

Coming into Apple’s earnings Tuesday night, we saw several downgrades of the stock and seemingly an onslaught of negative news of order reductions & claims of how bad Apple’s earnings & outlook would be. This is very similar to the set up from the prior quarter. Sentiment on Apple stock in the past few weeks swung too far negative and the negative media news of order cuts added fuel to the negativism on the stock. We believe the negativity on Apple stock is overdone and the majority of our thesis remains unchanged regarding Apple. — Citigroup (Buy)

Apple’s March quarter was in line with guidance (the company rarely misses); more important, the June guidance of revenue over $50bn was better than feared. Our top takeaways include (1) the iPhone X is selling better than perceived—the narrative that it is too expensive appears incorrect as users are overall moving up the price curve; (2) there is increasing revenue balance as the iPhone matures with services and wearables picking up some slack; (3) the dividend hike was relatively measly, suggesting management is optimistic on the stock price; and (4) the inventory increase appears to be component buy-aheads (OLED, DRAM, not NAND) to procure better pricing — UBS (Buy)

Many more analysts’ opinions, for what they’re worth*, in the full article here.

MacDailyNews Take: *Less than a bucket of warm spit.

SEE ALSO:
Apple’s wearables business is now the size of a Fortune 300 company – May 1, 2018
Uh, yeah, about those iPhone X ‘concerns’ from analysts: Never mind – May 1, 2018
Apple beats Street with best Q2 ever – May 1, 2018
Apple’s iPhone X to be discontinued this year, analyst claims – April 20, 2018
Morgan Stanley: Apple stock may fall on ‘materially’ weaker iPhone sales – April 20, 2018
Apple’s iPhone X made 5 times the profit of 600 Android OEMs combined – April 18, 2018
Apple’s iPhone captured 86% of global handset profits in Q417; iPhone X alone took 35% of global handset profits – April 17, 2018
Bernstein: Ams AG is biggest winner in Apple’s TrueDepth Camera system – April 10, 2018
Apple’s iPhone X is the UK’s most popular smartphone – April 9, 2018
Apple’s iPhone X sales continue to disappoint, some analysts say – March 22, 2018
Ignore the iPhone X naysayers – March 10, 2018
Will the naysayers admit they were wrong about Apple’s iPhone X? – February 5, 2018
Do iPhone X sales spell trouble for Apple? – January 30, 2018
Apple supplier says report of iPhone X production cuts was overstated – January 30, 2018
Another January, another misleading iPhone supply cuts story from Nikkei – January 29, 2018
Apple stock drops after Nikkei report of iPhone X production cut – January 29, 2018
Reports of Apple cutting iPhone X orders make no sense – January 2, 2018
Apple stock tumbles on one poorly-sourced report of low iPhone X demand – December 26, 2017
Apple and suppliers shares drop on report of weak iPhone X demand – December 26, 2017
Nikkei: Apple to decrease iPhone production 10% in first quarter of 2017 – December 30, 2016
Nikkei proclaims ‘iPhone 7’ Dead On Arrival; bemoans Apple’s ‘lack of innovation’ – May 12, 2016
Japan’s Nikkei, The Wall Street Journal blow it, get iPhone demand story all wrong – January 16, 2013
Did Apple reduce 4-inch Retina display orders due to improving yields? – January 15, 2013
Analysts: iPhone 5 demand ‘robust;’ ignore the non-news noise – January 15, 2013
Apple iPhone suppliers decline on report orders cut by 50% – January 15, 2013
Apple swoon erases $17 billion from stock market – January 14, 2013
Apple iPhone 5 production cut signaling a new product release? – January 14, 2013
Apple drops to 11-month low on old reports of component cuts – January 14, 2013
The strange math of Apple’s alleged massive iPhone 5 component cuts – January 14, 2013
UBS analysts: Apple iPhone component order reduction ‘old news’ – January 14, 2013
Apple pulls down U.S. futures – January 14, 2013
Apple shares drop below $500 after reported cuts in iPhone 5 parts orders – January 14, 2013