iPhone maker Apple have just smashed expectations with their third-quarter financial results: total revenue increased 10% YoY, and earnings per share climbed 12% YoY. Results were strong across the board, with Apple reporting a June quarter revenue record with double-digit growth in iPhone, Mac, and Services and worldwide growth in every geographic segment. Apple ended the quarter with $36.27 billion in cash and cash equivalents, no debt concerns here.
- 3Q revenue of $US94bn beat analyst expectations of $89.04bn.
- 3Q quarter earnings of $1.57 per share beat analyst expectations of $1.42.
- A dividend of 26c was declared, up from 25c last year.
The stock was trading ~2% higher in the after-market as some sceptics attribute the strong result to pre-tariff stock piling. This another strong result from a “Mag Seven” tech company, even one that botched its first attempt at entry into the AI space. However, President Donald Trump’s trade war targeting foreign-made products such as the iPhone, and Apple’s stumbling start in the pivotal transition to AI, is causing investors to question if the company will remain at the tech forefront as the industry moves into a new era.
- We like Apple but feel it’s time to watch the next chapter evolve for this $US3.1 trillion goliath – we took profit for our International Equities Portfolio back in January.
MM remains cautiously bullish on Apple around $US200
Add To Hit List
