The Giant Apple Did it Again | 2/8/2017
By Antonis Vasloos
UNBELIEVABLE ! Apple did it again !
Apple’s quarterly earnings report – the stock exploded in ‘after hours’ session to a new record !
The tech-giant company did it again, smashed another forecast and sent the stock to a huge rally after the trading session was over.
The iPhone’s manufacture is reporting a quarterly profit of $ 8.72 billion, or $ 1.67 a share. Analysts’ forecasts were for only $ 1.57 per share. Apple’s revenues totaled $ 45.4 billion, compared with analysts’ forecasts of $ 44.9 billion in revenues.
An amazing movement appeared ‘after hours, but the big story of the day is the forecasts. Apple expects revenues of $ 49-52 billion in the current quarter (ending in late September) and analyst forecasts of only $ 49.1 billion. Apple’s aggressive forecast means that, contrary to concerns, the launch of the iPhone 8 will not be delayed. Apple generally launches a new iPhone around the middle of September, which means that the ‘sales peak’ has entered the third quarter (ie, the current one.) The market was concerned that the launch of the iPhone 8 would be delayed and therefore the market forecasts were relatively lukewarm for the current quarter. Apple clarifies that there will be no postponement and the new iPhone will be launched according to the original timing.
The stock responded immediately in the late session and jumped by 6.3% to its all-time high , $159.5.
Apple’s market cap now exceeds $800 Billion, for comparison, Google (Alphabet), is the second largest market cap, with $650 Billion only.
Someone made some money last night, the legendary investor, Warren Buffett holds $20 Billion in Apple shares! Buffett bought his main stake at the beginning of the year at $110 per share,
As we know already, the stock is already trading around $160, after a huge rally of 30% since the beginning of the year – not including the last ‘after hours’ session yesterday!
sales of product
Apple sold 41 million iPhones in the last quarter, exactly as predicted three months ago in its first quarter report.
The company sold 4.29 million Macs and 11.4 million iPads, and after years of difficulty showing significant increases in sales, Apple announced an increase of 28% in iPad sales compared to the first quarter of the year and improvement of 14%
Compared to the same quarter last year.
Sales in China: Apple is still trying to improve its sales and market cap in the Chinses dragon market, with is the second largest economy in the world.
In the last quarter, the revenues from China are relatively low, $ 8 billion, compared with expectations of $ 8.5 billion. The revenue in the US continues to grow and even exceed expectations with income of $ 20 billion, compared to only $ 18.5 billion.
Without a doubt, Apple is the hottest stock in the market today that every investor wants in his long-term investment portfolio.