322.69 +5.00 (1.57%)
After hours: 5:44PM EST
|Bid||323.90 x 900|
|Ask||324.11 x 1200|
|Day's Range||312.19 - 318.40|
|52 Week Range||154.11 - 323.33|
|Beta (5Y Monthly)||1.24|
|PE Ratio (TTM)||26.72|
|Earnings Date||Jan 27, 2020|
|Forward Dividend & Yield||3.08 (1.00%)|
|Ex-Dividend Date||Nov 06, 2019|
|1y Target Est||295.00|
Apple is set to announce its Q1 2020 earnings on Tuesday, with analysts looking for improvements to sales in China.
Remember to diversify your stock holdings millennials!
Earnings season kicks into higher gear Tuesday with a slew of quarterly reports, but investors will be paying especially close attention to tech giant Apple and chipmaker Advanced Micro Devices.
(Bloomberg) -- Apple Inc. reported holiday-quarter revenue that beat Wall Street expectations on rebounding iPhone demand and surging sales of wearable devices. The results are a remarkable comeback from a year ago, when the most valuable technology company missed its own targets.A sales forecast for the current quarter also exceeded analysts’ projections, sending Apple’s stock up about 2% in extended trading. Services revenue came in slightly below expectations, limiting share gains.The Cupertino, California-based company reported $91.8 billion in revenue for the fiscal first quarter, up 9% from a year earlier. Wall Street was looking for $88.4 billion, according to data compiled by Bloomberg. Profit was $4.99 a share, also beating analysts’ expectations.For the fiscal second quarter, Apple said sales will be between $63 billion and $67 billion. Analysts estimated $62.3 billion, on average.“The strength is coming from the iPhone and continued really strong growth in wearables and the App Store,” said Shannon Cross of Cross Research. “The iPhone was very strong.”Apple shares have marched higher in recent months on increasingly bullish expectations for new iPhones, AirPods and revenue from iCloud storage, the App Store and other services. That elevated the stock’s valuation to the highest level in at least a decade, raising the bar for Tuesday’s results.After years of rapid growth, Apple’s expansion has slowed as demand for smartphones waned and competition from Chinese rivals intensified. Under Chief Executive Officer Tim Cook, the company’s strategy has evolved. It now aims to sell new handsets to customers every three to five years, and then offer as many services and accessories as possible in the intervening years.On Tuesday, Cook said Apple saw “strong demand” for the latest iPhones and noted that a base of more than 1.5 billion devices has been “a great driver of our growth across the board.”Cook addressed the coronavirus during a conference call with analysts, saying Apple is following developments in China. The company is working closely with employees and partners in the region, he added. Virtually all iPhones are made by Foxconn’s Hon Hai Precision Industry Co. in Zhengzhou, China, and by Pegatron Corp. at an assembly site near Shanghai.Chief Financial Officer Luca Maestri said the revenue range projected for the fiscal second quarter was wider than usual due to uncertainty created by the spread of the virus. Apple Supply Chain Braces for Disruption From CoronavirusAnalysts have been particularly excited about wearable accessories, such as the Apple Watch and AirPods.However, the iPhone still generates the majority of Apple’s revenue. And this crucial business has improved from a dire performance in last year’s holiday period. The iPhone 11 and 11 Pro models were well received in their debut in the fall and demand in China has been particularly strong, outselling 2018’s releases in a market that has otherwise been shrinking.Apple Is Raising TSMC Chip Orders to Meet Strong IPhone DemandApple generated $56 billion in revenue from the iPhone in the fiscal first quarter, up 8% from a year earlier. That was a lot better than the 2018 holiday period, when sales of the handset dropped about 15%. Apple cut the price of its entry-level flagship iPhone by $50, luring buyers. There are also millions of older iPhones that are losing software support from the company, spurring new purchases.Apple’s Lower Prices, Users’ Aging Handsets Drive IPhone DemandWearables, including AirPods, and other accessories generated $10 billion in revenue in the holiday quarter, up 37% from a year ago.The company reported Services revenue of $12.7 billion, up 17% from the same period last year. That missed analysts’ forecasts. This business still mostly relies on older offerings such as the App Store, iCloud storage and Apple Music. It’s unclear how well Apple TV+, the Apple Card and the Apple Arcade gaming subscription are performing, but there have been signs of weak demand for Apple News+, the company’s digital magazine subscription.“One note of caution in an otherwise strong report was that Services, which included Apple TV+, grew slightly below expectations,” said EMarketer principal analyst Yoram Wurmser. “This miss could be attributed to the competition from Disney+, which launched at roughly the same time.”Bob Iger Takes the Gloves Off for Disney’s Streaming Debut(Updates with analyst comment in final paragraph.)To contact the reporter on this story: Mark Gurman in Los Angeles at firstname.lastname@example.orgTo contact the editors responsible for this story: Tom Giles at email@example.com, Alistair Barr, Mark MilianFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Apple Inc. delivered record quarterly earnings and revenue Tuesday that beat expectations and sent the stock higher in extended trading.
Apple's total number of installed devices grew by 100 million to more than 1.5 billion over the past year. Apple gave a revenue forecast for the quarter ending in March above Wall Street expectations.
Apple Inc on Tuesday reported sales and profits for the holiday shopping quarter above Wall Street expectations, powered by a rise in iPhone sales for the first time in a year and soaring demand for add-ons like AirPods wireless headphones. The strong performance outweighed concern about the coronavirus in China, a major market as well as manufacturing hub for Apple, and a slight revenue miss in the company's closely watched services business, which includes the new Apple TV+ streaming offering. Shares of Apple rose 2% in after-hours trade.
Apple® today announced financial results for its fiscal 2020 first quarter ended December 28, 2019. The Company posted quarterly revenue of $91.8 billion, an increase of 9 percent from the year-ago quarter and an all-time record, and quarterly earnings per diluted share of $4.99, up 19 percent, also an all-time record. International sales accounted for 61 percent of the quarter’s revenue.
U.S. stocks rebounded on Tuesday, as the S&P 500 bounced back from its worst day in nearly four months, led by a climb in Apple and other names hit by exposure concerns to the coronavirus outbreak in China that sparked a recent sell-off. Markets across the world stabilized as the head of the World Health Organization (WHO) said he was confident in China's ability to stem the virus outbreak, which has killed 106 people in the country, prompted businesses to close operations and curbed travel.
Apex Clearing recently unveiled its fourth-quarter Millennial 100 report, which analyzed more than 734,000 portfolios owned by U.S.-based investors with an average age of just over 31 years. Many of the names are probably exactly what you’d expect, along with perhaps a surprise or two.
U.S. stocks rebounded on Tuesday, with the S&P 500 bouncing back from its worst day in nearly four months, led by a climb in Apple and other names after concerns on the economic impact of the coronavirus outbreak in China sparked a sell-off last week. Markets across the world stabilized as the head of the World Health Organization (WHO) said he was confident in China's ability to stem the virus outbreak, which has killed 106 people in the country, prompted businesses to close operations and curbed travel. "Obviously, with the China coronavirus uncertainty will breed volatility in the market until there is some sort of endgame to where this thing will be under control," said Jeff Zipper, managing director of investments at U.S. Bank Private Wealth Management in Florida.
Apple Inc. (NASDAQ: AAPL) was one of the hottest stocks in the market in 2019, gaining 89% and reaching a $1.3 trillion market cap. On Tuesday, Benzinga Pro subscribers received 34 option alerts related to unusually large trades of Apple options. At 9:42 a.m., a trader sold 658 Apple put options with a $310 strike price expiring on June 19 at the bid price of $19.25.
What investors can expect from Apple, Starbucks, and eBay earnings Tuesday. The episode then ends with why Guess?, Inc. (GES) is a Zacks Rank 1 (Strong Buy) stock right now...
The S&P 500 rose over 1% on Tuesday as a surge in Apple and other technology stocks helped the benchmark index recover from its worst selloff in about four months that was sparked by concerns over the coronavirus outbreak. Markets across the world stabilized as the head of the World Health Organization (WHO) said he was confident in China's ability to contain the virus outbreak, which has killed 106 people in the country, prompted businesses to close operations and curbed travel. President Xi Jinping later said China was sure of defeating a "devil" coronavirus.
Top Chinese smartphone maker Huawei Technologies Co Ltd thrived in 2019 at the expense of smaller Chinese rivals and Apple even as the smartphone market shrank further and consumers favoured phones with 5G technology, data shows. Handset shipments for Shenzhen-based Huawei jumped 35.5% to 142 million in 2019, from 104.8 million a year earlier, according to estimates from market research firm Canalys. Shipments for Apple's iPhones decreased about 21% year-on-year to 27.5 million.