Apple Inc. (NASDAQ: AAPL) is having an overwhelmingly strong day in the market today, and for good reason. The company announced its earnings for the most recent quarter, blowing away expectations. On top of that the company released guidance that is well ahead of forecasts. Of course, this led to excitement among investors, sending the stock screaming for the top and prompting an alert from our partners at Trade Ideas. Below, we’ll talk about what we saw from the earnings release, how the stock reacted to the news, and what we’ll be watching with regard to AAPL ahead.
What We Saw From AAPL Earnings
As mentioned above, Apple reported its earnings for the most recent quarter, blowing away expectations and sending the stock screaming for the top. Here’s what we saw from the earnings report:
- iPhone Sales – During the quarter, AAPL sold an impressive 46.7 million iPhone units. That’s overwhelmingly positive considering that analysts only expected the company to sell 46 million units.
- Earnings Per Share – In terms of earnings per share, the company did overwhelmingly well. During the quarter, it was expected that the company would generate earnings in the amount of $1.87 per share. However, the company actually reported earnings well ahead of expectations at $2.07 per share.
- Revenue – When it comes to revenue, AAPL definitely did not disappoint. During the quarter, the company generated revenue in the amount of $52.6 billion. That figure came well ahead of analyst expectations of $50.7 billion.
- Guidance – In the quarter ahead, Apple said that it is expecting to drive revenue in the range between $84 billion and $87 billion. Currently, Wall Street is expecting that revenue for the quarter will come in at $84.9 billion.
- China Growth – Finally, a big key to the excitement here is growth in China. Sales in the region came in at $9.8 billion. That’s a massive, 12% increase over the same quarter last year.
What We Saw From The Stock
As we’ve come to expect, due to the strong earnings report, AAPL is having an incredible time in the market as we speak. While we are still in the pre-market hours, the stock is on a tear upward. Currently (8:31), the stock is trading at $175.58 per share after a gain of $7.47 per share or 4.44% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on AAPL. In particular, we’re interested in following the growth of the iPhone sales. We’re also interested in the continued growth in China as the region, while a massive one, isn’t the easiest to tackle, but Apple seems to be doing well. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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