Apple Stock: iPhone Maker Tops Fiscal Q4 Views | Investor's Business Daily
Market Trends
- Apple (AAPL) posted record revenue in its fiscal fourth quarter, driven by strong iPhone and services sales.
- The company beat estimates, with earnings of $1.85 per share on sales of $102.5 billion.
- Analysts had projected earnings of $1.78 per share on sales of $102.2 billion.
Key Highlights:
- Services Revenue: Rose 15% year-over-year to $28.75 billion, accounting for 28% of total revenue.
- iPhone Sales: Increased 6% to $49 billion, contributing to 48% of quarterly revenue.
- Mac and iPad Sales: Mac computer sales rose 13% to $8.7 billion, while iPad and Wearables, Home, and Accessories sales remained flat.
Outlook:
- Apple forecasts a 10-12% increase in total revenue for its current quarter (fiscal Q1), with December-quarter revenue expected to reach $138 billion at the midpoint.
- Wall Street was expecting revenue of $131.8 billion for the December quarter, with earnings per share projected at $2.54.
- CEO Tim Cook noted, "We are heading into the holiday season with a truly remarkable lineup."
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