Thursday, 20 September, 2018

Apple is climbing after topping Wall Street's earnings expectations (AAPL)

Apple's fourth-quarter forecast will give clues to when the new iPhones will debut say Apple's fourth-quarter forecast will give clues to when the new iPhones will debut say
Kelvin Reese | 01 August, 2018, 08:58

Cook said the services revenue is mainly driven by more people entering the Apple ecosystem and announced that paid subscriptions surpassed 300 million, a 60 percent year-over-year growth. The company closed the day with a valuation of $935 billionーits next closest rival, Amazon, ended the day at $867 billion.

Apple also posted earnings per share of $2.34, up 40 percent from a year ago and beating expectations of $2.18. Much of Apple's manufacturing takes place in China, and the Chinese market is Apple's second biggest when it comes to revenue, so the company could be affected in the future.

Shares rose almost 3 percent in after-hours trading, from a $190.29 per share close - edging the company closer to its pursuit of a $1 trillion market value.

There are lots of things to expect from Apple's upcoming quarterly earnings to stay tuned for the latest. While unit sales have slowed recently, the company is building digital services and a suite of other gadgets around the device. It makes sense if more people are insuring that pricey iPhone X (and for a downpayment than past year to boot).

The company shipped 3.7 million Macs last quarter, down 13% on the year. In September, Apple expects to unveil three new models, which explains the strong forecast. That's raised Wall Street expectations for more sales and profit.

"We're on target to reach our goal of doubling our fiscal 2016 services revenue by 2020", CEO Tim Cook assured investors on the call. Despite the more-or-less unchanged unit shipments, Apple's handsets brought in $29.9 billion in revenue, or an impressive 20% increase from a year ago. Profit came in at US$2.34 per share. Eight analysts surveyed by Zacks had expected $52.4 billion in revenue for the quarter.

Yoshinori Muto close to Newcastle move
Rondon scored seven goals and provided three assists for West Brom last season, finishing as joint top-scorer alongside Jay Rodriguez.

Zimbabwe election: First vote without Mugabe
The main contenders in the presidential vote are incumbent Emmerson Mnangagwa , of the ruling Zanu-PF party, and opposition leader Nelson Chamisa .

Ahed Tamimi relased from Israeli jail, promising to continue the resistance
The separation wall cutting the West Bank off from Israel is filled with graffiti in support of the Palestinian cause. Her case has also focused attention on the arrest and detention of Palestinian juveniles by Israel.

Facebook reported weaker-than-expected revenue last week, while Twitter posted fewer-than-expected monthly users for the previous quarter.

"Apple gave the Street and tech investors finally some good news" beating earnings forecasts and predicting the current quarter will be strong, GBH insights head of technology research Daniel Ives said in a note to investors.

The company earned $2.34 per share on revenue of $53.3 billion for its fiscal third quarter, compared with EPS of $1.67 and revenue of $45.4 billion. Apple also regained growth in China, where sales rose 19 per cent.

Revenue from the app store, music subscriptions and other services grew 31 per cent to Dollars 9.5 billion, a record for Apple.

Overall, revenue was up 17% year-over-year at $53.3 billion, a June quarter record.

Services and "other products", a category that includes AppleTV, the Apple Watch and other Apple-branded devices and accessories, saw year-over-year sales increase by more than 30%. The category includes AirPods headphones, the Apple Watch, Apple TV, and the HomePod. Apple says wearable sales was higher by 60 percent during the quarter.

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