“Apple would have generated $80.8 billion in revenue, up 8% year over year, except for the strength of the U.S. dollar in the December quarter,” Chuck Jones writes for Seeking Alpha.
“When you reflect on this with a loyal and growing install base of iPhones and other Apple products, combined with unannounced products and services,” Jones writes, “the company and its stock are very well positioned for investors.”
“While it will probably tread water with a trading range of the low $90s, where it has support, to around $110, where there is resistance,” Jones writes, “once the dollar’s impact neutralizes in the June quarter, the underlying strength of Apple’s business will become apparent. I believe this is one reason Tim Cook, Apple’s CEO, said that the March quarter would be the toughest compare for the year.”
Read more in the full article here.
MacDailyNews Take: The analysts were already lost after Chuck’s first sentence.
SEE ALSO:
Apple’s attempt to draw attention away from iPhone sales leaves Wall Street unimpressed – January 28, 2016
Jim Cramer: The Apple analysts are blowing it – January 28, 2016
Apple reaps $18.4 billion quarterly profit, the largest ever recorded by a single public corporation – January 26, 2016
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
Have anyone noticed that AAPL all time high today is $106.96 on Yahoo, and $$99.45 on MarketWatch?. However, the chart does not even reach to $95. Can someone explain why it is as it is?.
Think of that as costing Apple $5billion which would have blown wall st. Estimates to hell if the foreign currecy rate was higher last quarter…
Very astute.
And the 10-14% drop for Q2 guidance would have been less if not for the currency rate changes too.
So basically, Apple is in much better growth mode long term than their numbers reflect, because the dollar won’t keep getting stronger indefinitely. That is a short term adjustment.
Alphashit is getting close in market value. Hopefully Wall Street will start attacking them now and leave Apple alone.
sad that Apple’s profits are not reflected in its service to its customers!
Strongly disagree with this negative comment! Have been Apple user for a decade and the service, though rarely needed, has been helpful, immediate and friendly!