Apple shares rise over 6% in pre-market trading after releasing record-breaking results.
Sales of 9 million iPhones more than expected and the April launch date of the Apple Watch gave the computer & device designer and manufacturer a 29.5% gain on revenue versus the same period the year before. Apple announced, ‘The results were fueled by all-time record revenue from iPhone® and Mac® sales as well as record performance of the App Store℠. iPhone unit sales of 74.5 million also set a new record.’
However, as the USTECH100 [Nasdaq] crashed on Tuesday, Apple fell alongside. Stocks throughout look better after market close with the USTECH100 rising from 4142 to 4223, and Apple rising over 6% pre-market today.
Apple quarterly earnings
Forecast: $2.60 a share on $67.69 billion in revenue (Thomson Reuters)
Actual: $3.06 per share on revenue of $74.6 billion. Both were records breaking results
Highlights of the earnings report:
Sales of iPhones: 74.5 million units versus a 65.7 million estimate and 51 million unit sales in the same period last year. iPhone sales comprised almost 69% of the company’s overall quarterly revenue.
Sales of the iPad: 21.4 million units versus a 22.2 million unit estimate.
Apple's cash pile rose to almost $178 billion, up 15% from the prior quarter.
Apple conference call revealed that it will start deliveries of the long-awaited Apple Watch in April 2015, and that sales in China of the iPhone showed “huge hunger for the large form factor screen, seeing a 70% growth in Asia.” The current number of Apple stores in China is 20 and this is hoped to double that number in the next 2 years. The company also said that it expects revenue between $52 billion and $55 billion in the current quarter; this will take into consideration the post-Christmas slack.
MT4 chart: APPLE
MT4 chart: USTECH100
Trade stock CFDs on STOCK.com with full training given to all clients