“Apple Inc.’s iPhone is reeling in buyers in China, sending quarterly profit up by 33 percent and fueling a surge in growth that led the company to boost its capital-return program by $70 billion,” Tim Higgins reports for Bloomberg.
“Net income in the period that ended in March was $13.6 billion, or $2.33 a share, and revenue rose 27 percent to $58 billion, the Cupertino, California-based company said Monday,” Higgins reports. “iPhone sales in greater China outpaced those in the U.S. for the first time, helped by the Chinese New Year celebration, Apple said.”
“Booming demand for the iPhone 6 and 6 Plus is putting Apple on pace for its highest annual profit since 2012 — a record — and the company forecast sales in the current period that may exceed analysts’ estimates. That signals enduring demand for the larger-screened smartphones and optimism for the new Apple Watch, the company’s first new gadget under Chief Executive Officer Tim Cook… Another bright spot for Apple was Mac unit sales, which rose 10 percent to 4.56 million, as new products breathed life into the product line.”
Read more in the full article here.
MacDailyNews Take: With any luck, Apple will open today at a new all-time intraday high. In pre-market trading, AAPL is currently trading at an all-time record $134.59.
Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma – which is living with the results of other people’s thinking. Don’t let the noise of others’ opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition.
Steve Jobs
You’ve forgotten /s.
Yes, another massive quarter and, in typical market logic, the stock is down so far for the day. I should l just sell my Apple stock, buy Blackberry stock, and be done with it…
By all means, sell all of your Apple stock.
I hope you realize I was being facetious :-).
he knows but hey an opportunity is an opportunity to take it off your hands.
Understood. Actually, the entire market is down today, so…
Blockbuster, record-breaking quarter…market opens…AAPL tanks.
Meanwhile, Amazon loses less money than expected, stock soars 15%.
Lot of good those stock buybacks have done. Cook might as well have put all that cash in a pile and burned it. Wall Street doesn’t care how many AAPL shares are outstanding or what its P/E ratio is. Wall Street still thinks Apple is a fad and that the company might go out of business next year.
Did anyone noticed how much Apple’s P/E compressed overnight? It’s now 16.18. All the major tech stocks P/E expanded upon earnings. (Microsoft, Google, Amazon, IBM, Netflix, Tesla, etc.). I mean… seriously. WTF is going on with the stock market. Wall Street is making it too obvious.
WTF, down over 2.00…
Very amusing sell-off, so typical of AAPL earnings day after. This one would defy all logic, since sales are all burning 52 cents per share coming in a few weeks. I guess the profiteers want to drive price down by selling high then buying back shares and more before the dividend is vested. Long term investors in AAPL know the drill. First the drop after massive earnings, then the slingshot.
Expectations exceeded, price targets going up, share price going down. Wall Street logic strikes again.
I’m not angry but somewhat puzzled. Apple basically met or exceeded all of Wall Street’s expectations, so there should be no legitimate reason for the share price to drop and I’m fairly certain no other stock would perform in this manner. The only conclusion I can make is that Apple stock movement is being actively manipulated by some group. Why else would a stock with a P/E of 17 sell-off after soundly beating expectations. I don’t want to hear anything like, “surpassed expectations were already baked into the current share price.”
I’m not concerned because it simply makes it easier for Apple to repurchase shares. I know Apple will rise in time but I’m only saying that it looks like something is being orchestrated.
exactly my thoughts!
there was a legitimate reason for the price drop – stock prices don’t drop for illegitimate reasons. there are many reasons why people sell their stocks and are willing to sell for less than it was previously trading at. you didn’t seem to have to jump very far to reach the “must be manipulation” conclusion. glad you’re not my lawyer using insufficient inappropriate evidence on which to base your conclusions. suggest you stop wasting your energy on things you cannot control and too complex to predict.
There a word for it:
stochastic |stəˈkastɪk|
adjective technical
having a random probability distribution or pattern that may be analysed statistically but may not be predicted precisely.
Today’s range: started off at 134.54 and went down to 129.57. So if you sold at the onset of today and bought back at the low then that would have been a $5 profit per share.
Word for today: unbelievable
how much of that goes to broker’s commission?
$7 per transaction no matter how many shares i sell, or buy
If you are using a crook, then stop