“Shares of Apple Inc rose 1 percent on Thursday after German supplier Dialog Semiconductor Plc said its quarterly revenue were higher than expected, adding to recent enthusiasm about demand for the newest iPhone,” Noel Randewich reports for Reuters.
“Apple accounted for about 80 percent of Dialog’s revenue last year, making the chipmaker’s results a potential indicator of iPhone sales,” Randewich reports. “‘We believe this is another confirming data point of stronger than expected iPhone demand, corroborating the U.S. carriers’ reports a few weeks ago,’ wrote Credit Suisse analyst Kulbinder Garcha in a note to clients on Thursday.”
“Dialog reported preliminary third-quarter revenue that was 13 percent above the mid-point of its own outlook range, and up 5 percent year over year,” Randewich reports. “Apple’s stock has surged 11 percent since mid-September, when T-Mobile US Inc and Sprint Corp reported strong preorders for the new handsets.”
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MacDailyNews Take:
No, shares are up because my phone was delivered today!!!
Just about as relevant as Dialog Semi having a good day
Apple is nothing but a climb and dive stock. Up today, down tomorrow. Meanwhile Amazon continues to climb daily, weekly, monthly and yearly. One CEO clearly understands Wall Street and the other CEO doesn’t.
Apple will soon be coming out with the world’s fastest A10X tablets while most consumers are happily buying Amazon’s el-cheapo $50 tablets by the dozen. Wall Street loves Amazon for things like that. Analysts will be cursing Apple for declining iPad sales because they’re too expensive and last too long, so they’ll say don’t buy Apple and buy Amazon instead. Another down year for Apple about to end.
And Amazon still basically delivers near-zero profits. Sooner or later the very high P/E ratio will hit Amazon hard unless the profits grow…a lot.