Apple “sold a total of 74.8 million iPhone units; that figure is an all-time high but was slightly under consensus estimates for around 75 million units, although many buy-side investors were expecting even worse. Importantly, the average selling price for the iPhone came in at $691, crushing the $674 consensus estimate,” Jim Cramer and Jack Mohr write for TheStreet’s Real Money. “This is a key point as it shows that the phone still demands a premium price despite the difficult currency environments.”
“In addition, while CEO Tim Cook noted that the March quarter will be the company’s toughest comparison for the iPhone, he specifically pointed out that the franchise remains healthy and is ripe for growth,” Cramer and Mohr write. “To that end, the iPhone experienced the highest rate of Android switchers ever seen; also, 60% of the installed base is still in older models (iPhone 4, 5 and so on), leaving room for more potential upgrades.”
Cramer and Mohr write, “Ultimately, we believe that expectations have been reset for the year and the company is set up to outperform given the many catalysts (China, new iPhone upgrade program, new phone models) throughout the balance of this year and in the future.”
Read more in the full article here.
MacDailyNews Take: Yes, this too shall pass and Android will only fall further and further behind.
SEE ALSO:
Apple CEO and CFO see broad global economic ‘weakening’ – January 27, 2015
Most Apple analysts maintain positive ratings, but cut price targets – January 27, 2015
Piper Jaffray: iPhone resume growth in 2016 despite poor macroeconomy – January 27, 2015
Apple highlights services in search of Wall Street’s love – January 26, 2016
Apple reaps $18.4 billion quarterly profit, the largest ever recorded by a single public corporation – January 26, 2016
Apple beats on earnings; sets all-time records for revenue, net income, and EPS – January 26, 2016
MacDailyNews presents live notes from Apple’s Q116 Conference Call – January 26, 2016
Apple beats Street with all-time record quarterly earnings – January 26, 2016
This is fantasy! 1 billion active device users…90 percent running iOS 9, and 60 percent of iPhone users still owning a 5c or older. This blows my mind! iPad owners just plain don’t need to upgrade very often. US tablets are mostly iPads.
Quarterly revenue loss because of economic dollar rollercoaster is higher than quarterly revenue of most Fortune 500 companies.
Do you long termers really want to sell? Who is advising you? This is like Nancy Pelosi actually reading Obamacare!
I was with you until you dragged in the crap in your last sentence!
Your comment about Obamacare etc is inane.
In the last 90 days, who actively connected to Apps, iTunes, etc
Libs just HATE it when you point out the truth. Obamacare is a lie foisted on us by our little marxists in government. I can’t WAIT until we FINALLY get a true Conservative in the White House. When the voracious appetite of government expands and expands, our precious freedom contracts and tyranny becomes the norm. I just WISH these mindless leftists can see that…
What does Apple have to do for AAPL to gain after reporting results, *lose* money?
Idiocracy. So much for expected disappointment in results being “baked in”.
Wal Street is the source of all FUD.
Last year, the paranoid amongst us were all blaming Samsung.
I think the idiots in washington dc — including corporate lobbyists and their congressional puppets — are responsible for the vast majority of fearmongering.
Every time a presidential candidate warns that refugee women and children must be deported because they are somehow a threat to the USA, I fear for the future of the nation. How can a self-proclaimed “in god we trust” majority judeo-christian nation with more military power than any nation ever suddenly become afraid of penniless women and children escaping war zones? Is there no room at the inn?
Mike, mike, mike: Open your eyes. Please?? The 80%+ men who are FLOODING into Europe (and USA) are more then just “penniless women and children escaping war zones”. Those poor to be pitied refugees are having a grand old time raping and killing women in Germany and in fact across Europe – http://www.bbc.com/news/blogs-eu-35413134.
129 dead, 352 wounded in the Paris attacks (by those same poor penniless refugees), and the 14 murdered in San Bernardino should be just a little bit concerning – even to you.
ISIS has publicly and proudly stated that the “refugees” will in fact contain as many fighters as they can stuff in.
It is our RIGHT and our DUTY to protect our citizens (even YOU) from the Islamonazi threat. You can STILL be the good person I know you think you are by ignoring the nasty truth and proclaiming to all just how righteous you are BUT you are actually NOT that person because your head in the sand attitude will result in death and pain for those attacked.
By the way, your little liberal attack on religion didn’t go unnoticed….
@macaholic. I now pay more than my monthly mortgage for Obamacare per month for healthy family of 3…the truth hurts! Obama ran on not taxing the middle class, yet I lost almost every deduction. Im working to pay for the lazy who could work, but don’t. Is that fair share?
I don’t believe you!
You are working to do what? That is not true. Welfare in this country has changed.
We don’t care if others have food, we don’t care whether the streets are safe, we don’t care about safe drinking water, just the right people are to have it. We only care that those others don’t have it. You know the ones. Let’s be honest here iStepChild.
It’s not that when people get sick and they show up at a hospital we let them die because they have no insurance, which the hospital says drives up your cost, but to keep your cost down let’s do that, let them die or at least suffer. Better we check for insurance or credit cards first if nothing, drag them out to the street, hey. That’s the true American way. Come on, “We are not our brother’s keeper”. iStepchild, way to go. Hey you are really Donald Trump? or the Canadian Cruz?
Bob – Whether you “believe” it or not, the cost for premiums due to this Obamacare fiasco have SKYROCKETED. The deductibles have SKYROCKETED. You obviously don’t pay for your healthcare.
Don’t throw out your asinine liberal strawmen (just the right people have save drinking water and all your other tripe like dragging people into the street). We had MORE covered people BEFORE Obamacare then now. The COST of Obamacare is spiraling OUT of control. MORE and more exchanges are closing and going belly up. ObamaCare is nothing more then a transfer of wealth. Because of the distortions created by hyper regulation like ObamaCare, costs are skyrocketing and access is diminishing.
There was and is a better way – its called capitalism. Its called the FREE MARKET. Beats socialism every single time. EVERY TIME. Removing the asinine regulations and restrictions designed to advance socialists dreams of social engineering and allowing the open market to work will lower costs, improve care and more. This too has been proven over and over again. Only problem for your leftists is that it takes control AWAY from your God (Government) and puts it back into the hands of the people (so scary).
Sadly your head has been ground into mush by the leftist garbage spoon fed to you by your school/University indoctrination. Try – just try to leave your self righteous safe area and do a little self education about the power of free market capitalism. Do something really scary like read Milton Friedman. Ya might learn something…
Milton Friedman! You poor brained washed soul.
Stop watching the fools on Fox News.
Apple is not APPL. Perhaps this sobering piece of fact will prevent you idiots from equating the stock market with the performance of a company.
Only be concerned if the company in question cannot profitably execute its mission.
The stock market goes up and down based on factors it can and cannot control. There has never been a sure thing stock.
AAPL is way oversold. Individuals are getting scared out and institutional investors are snapping up the discount shares by the looks of who is buying.
Considering that Apple’s cash equivalents balance overseas equates to $40 per outstanding share, that means the market is currently valuing Apple’s business at only $53 per share. Sounds like a good time to buy, unless you truly believe Apple is doomed.
If that is true, maybe Apple is valued at a little more than it’s worth. Which is a fair price for its shares.