Apple shares jump 6% to record high after earnings beat

“Apple reported fiscal third-quarter earnings on Tuesday that beat analysts’ expectations, and revenue that topped estimates, as it sold more iPhones than expected,” Anita Balakrishnan reports for CNBC. “Despite expectations for a ‘lame duck’ quarter ahead of the iPhone 8 launch, Apple sold 41 million iPhones during the quarter, surpassing 1.2 billion total iPhones sold.”

“The company also hit a major goal, as the App Store drove Apple’s Services division to a record high, the size of a Fortune 100 company,” Balakrishnan reports. “‘If you look at the products, we sold 41 million iPhones but frankly it’s better than that because we also reduced channel inventories by 3.3 million,’ CEO Tim Cook told CNBC’s Josh Lipton on Tuesday. ‘If you look across the world, we had several markets in Asia, in Latin America, and the Middle East which grew more than 25 percent year-on-year. If you look at [iPhone] 7 in the [iPhone] 7 Plus, we grew strong double-digit year-on-year compared to the 6S plus a year ago. So iPhone was terrific.'”

“Shares popped [6.03%] after hours, reaching above [$159.10],” Balakrishnan reports. “Apple’s record intraday high is $156.65, so if these levels hold tomorrow morning, Apple will open at a record high, with a market capitalization of over $830 billion.”

Read more in the full article here.

MacDailyNews Take: Boom!

Interns, we know it’s only Tuesday, but TTK!

SEE ALSO:
MacDailyNews presents live notes from Apple’s Q317 conference call – August 1, 2017
Apple beats Street – August 1, 2017

19 Comments

  1. Killer. AND! On….

    Birth name:
    Jerome John Garcia’s BIRTHDAY!

    Born:
    August 1, 1942, San Francisco, California, U.S.

    Talk About Thinking DIFFERENT!

    Go AAPL, FCK those critics.

    1. They’ll likely fluctuate in the short term, but with the solid underlying fundamentals and the good prospects for the future, you can be reasonably certain of there being a rising trend over the next few months.

      This last quarter wasn’t expected to be all that great and it was also going to be a tough compare because the iPhone SE went on sale last year in that quarter and boosted sales unexpectedly, however the results for this quarter turned out to be excellent.

            1. Keyword :STILL.

              Both of you are the LOOSERS and that is the the reality you are stuck with asshole. You will always be a losser and APPL has made us super rich – BITCH.

            2. The demise of the Plantation Party is imminent…by all means, stay with your Alinsky manifesto of violence, anarchy and treason…you’ve lost the presidency, the senate, the house, the supreme court, the state houses and the governorships…the 2018 midterms will be a bloodbath of total rejection of your anti-constitutional filth.

              keep talkin’, Breeze.

        1. Every elected president since our country’s inception has been elected through the Electoral College…I know you are bitter about the tenets set down by our founding fathers regarding a republic, but, alas, that is the Constitution. And until you can negate the Electoral College through an amendment, you will stay exactly what you are: a fücking loser.

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