“Apple shares jumped on Wednesday, putting the tech-giant closer to becoming the first company to reach a market value of $1 trillion,” Matthew Rocco reports for FOXBusiness. “The stock has already advanced 12% this year.”
“The rally followed the company’s quarterly report in which earnings and revenue came in better-than-expected, as iPhone sales climbed and revenue from services like the App Store hit a record high,” Rocco reports. “Apple has benefited from higher iPhone prices following the introduction of the range-topping iPhone X, which starts at $999. The average selling price of an iPhone came in at $724 in the company’s fiscal third quarter, more than Wall Street’s estimate of $694, according to FactSet.”
“Apple’s fourth quarter will benefit from early sales of new iPhone models,” Rocco reports. “Analysts believe Apple will introduce at least three iPhones in the fall, including devices that target users looking for cheaper options.”
Read more in the full article here.
MacDailyNews Take: Soon.
SEE ALSO:
Apple shares pop as Cupertino Colossus races to $1 trillion valuation – August 1, 2018
MacDailyNews presents live notes from Apple’s Q318 conference call – July 31, 2018
Apple beats Street with best June quarter ever – July 31, 2018
Apple could’ve worth a trillion long ago, but for buybacks and dividends – July 31, 2018
Yeah, Trillion-Dollar Tim is doing a terrible job, just awful. Off with his head!!
/s
Trillion Dollar Tim. I like that, an improvement over “so much whinning” but you know whiners got to whine.
Way to go Trillion Dollar Tim. Now the next big question is what will happen first, Apple releases a Mac Pro, or Apple’s Home nation discovers that weapons of mass destruction program in I raq.
Of course being an Apple fan, my bet’s with Apple.
Although I think Tim Cook is doing a decent job, it just seems he could do better considering Apple’s cash and other resources. It just seems as though Apple is leaving money on the table by not updating their computer lineup in a timely fashion. I’m sure there must be a lot of projects going on in the background, but I don’t know that for a fact. If Apple eventually offers a bundled, streaming video and music service for its huge customer base, it will greatly boost services revenue.
I know I may be wrong about Apple not taking advantage of everything it has but I’m only offering a personal opinion of how I see Apple and that’s plenty devoid of actual facts. Apple really surprised me this quarter which I thought would vary 1% or 2% gains or losses in share price. Up 5%?! I didn’t see that coming.
The $1000 iPhone was destined for failure due to the price and that abomination of a notch in the display. No consumer in their right mind would buy something that expensive. What was Apple thinking? Everyone is entitled to their opinion, but these things were being said practically before the iPhone was even available. Wasn’t there even some pundit who said Apple would be discontinuing the iPhone X because of poor sales, low demand, or something to that effect. These people deliberately spew lies and misinformation to trick the weak-minded investors and it’s just so crooked.
It’s quite apparent, Apple still has enough loyal consumers who are willing to pay whatever the cost for an Apple product. Apple must know enough about its customer base to charge as much as it does. People keep betting against Apple and telling investors to only buy the FANG stocks but Apple seems to be holding its own despite all the naysayer’s criticism of the company.
I simply don’t understand many of the things Apple does but I’m just the ignorant one. Apple clearly has a working long-term formula that is better than what most companies can muster whether I can see it or not. Maybe that’s what keeps Apple undervalued compared to its peers.
The time ha along gone where anybody could try to suggest that Apple is selling to die-hard fans who will pay whatever asks for anything.
I find it hard to imagine that there might be as many as a million die hard Apple fans around the world, but iPhone X is selling in immense numbers and so are the other models, More than forty million iPhones sold in the last quarter is a tremendous achievement and demonstrates that Apple knows what it’s doing. Even more remarkable is Apple’s average selling price per unit, which other manufacturers can’t dream of equalling – Samsung failed miserably when it tried to sell $1,000 Androids.
I had had my public differences with the MDN staff. But one thing that I truly enjoy is an old-fashioned MDN whipping of pundits and analysts whose statements have been iCal’ed for future ridicule.
MDN, perhaps it is time to parse some of those iCal threads. I am in serious need of humor right now.