Apple: many pleasant surprises; stock expected to rise.
(CercleFinance.com) - Quarterly accounts exceeded expectations, thanks to both the iPhone and the iPad, with a string of optimistic forecasts even before the launch of iPhone 8: that's enough to suggest that the Apple share will open up over 6% at about 150 dollars on Wall Street today, according to post-market electronic transactions.
The third quarter (Q3) of Apple's staggered 2016/2017 fiscal year, running from April to June, ended with revenues that are up 7.1% to 45.4 billion dollars, 61% of which is outside the US.
Over the quarter the group sold 41.026 million iPhones (40.7 million were expected), its flagship product, up 1.6% y-o-y, which represents sales of 24.8 billion dollars (+3.3%). Some 11.4 million iPad tablets were also sold, i.e. 14.8% better than a year ago, with sales of 4.9 billion dollars (+1.9%): this product range has therefore returned to growth.
In addition, quarterly net income grew faster (+11.8% to 8.7 billion dollars), or 1.67 dollar per share (+17.6%), at a time when capital has been reduced by 4.4%: the consensus was only expecting quarterly EPS of 1.57 dollar.
Finally, in Q4 2016/2017, Apple expects sales of between 49 billion and 52 billion dollars (vs. 46.9 billion dollars in Q4 2015/2016), whereas the consensus was only expecting 49.2 billion dollars, with a gross margin of between 37.5% and 38%.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The third quarter (Q3) of Apple's staggered 2016/2017 fiscal year, running from April to June, ended with revenues that are up 7.1% to 45.4 billion dollars, 61% of which is outside the US.
Over the quarter the group sold 41.026 million iPhones (40.7 million were expected), its flagship product, up 1.6% y-o-y, which represents sales of 24.8 billion dollars (+3.3%). Some 11.4 million iPad tablets were also sold, i.e. 14.8% better than a year ago, with sales of 4.9 billion dollars (+1.9%): this product range has therefore returned to growth.
In addition, quarterly net income grew faster (+11.8% to 8.7 billion dollars), or 1.67 dollar per share (+17.6%), at a time when capital has been reduced by 4.4%: the consensus was only expecting quarterly EPS of 1.57 dollar.
Finally, in Q4 2016/2017, Apple expects sales of between 49 billion and 52 billion dollars (vs. 46.9 billion dollars in Q4 2015/2016), whereas the consensus was only expecting 49.2 billion dollars, with a gross margin of between 37.5% and 38%.
Copyright (c) 2017 CercleFinance.com. All rights reserved.