Apple Inc. (AAPL) – Get a Report Shares rose the cool big week of all time, firmly trading the $ 400 mark for the first time, after the tech giant posted a third-quarter health gain. the closure of pandemic stores and the supply chain.
Apple said earnings for the quarter ended June, the group’s third-quarter fiscal, up 25.9% from the same period last year to $ 2.58 per share, well ahead of the forecast of $ 2.05 per street consent per share. Apple said the Group’s revenue increased 13.4% to $ 59.7 billion, with earnings in each geographic region and across the entire product line.
IPhone revenue rose 2% from last year to a forecast that topped $ 26.4 billion, despite COVID-19 headwinds, thanks in part to a solid debut for the $ 399 iPhone SE, which was launched earlier this year. -sena. Sales from the iPad and iMac, meanwhile, rose 22% and 31% respectively as computer-assisted work-from-home shifts. Services revenue was tied at $ 13.2 billion, simply afraid of Apple’s recent record and 15% from last year.
“We are very happy with the way we did on iPhone. It was better than we thought largely because May and June were much better. If you look at iPhone overall the things that get you very optimistic are the size of the active base installed., “Apple CEO Tim Cook told investors on a conference call late Thursday.
“The installed base is growing and new customer numbers are still very high and so, which augurs well for the future,” he added. “There’s clearly, as we’ve pointed out, there’s some amount of work from home and distance learning that positively affects Mac and iPad results.”
“It probably affects clothing and the iPhone, the other direction. And – but on a Mac and iPad, these are productivity tools that people are using to stay engaged with their work.” or stay engaged with their school work, ”Cook said. “And we believe we’re going to have a strong comeback for the school season. Being here today, it definitely looks like this.”
Apple shares were up 6.2% higher in Friday’s early trading to change hands at $ 408.35 each, a move that extends the year’s stock earnings to about 40% and values the company based in Cupertino, California for about $ 1.78 trillion.
The impact of the stock on the Dow Jones Industrial Average, however, will diminish next month after the group announced a four-to-one stock split that is due to take effect on 31 December. ‘August. 7% to $ 410 per share adds about 185 points to the Dow. A similar gain of $ 110 per share adds only 46 points to the weighted average price.
Apple has failed to offer short-term profit forecasts, “due to global uncertainty” and the continued impact of COVID-19, but noted that it expects to see continued gains for the iPhone, despite likely delays of “a few weeks” for its iPhone 12 launch in September.
“Management anticipates continuous double-digit growth for all hardware products except iPhones during Q4 / F20 and iPhones facing difficult growth comparable to new product launches coming a few weeks later or now long the December quarter, “said Canaccord Genuity analyst T. Michael Walkley, who carries a $ 460 target price rating on the stock.
“Starting in Q1 / F21, we believe Apple is well positioned to benefit from the 5G refresh cycle and anticipate strong iPhone growth to contribute to strong overall growth trends as 5G smartphones ramp up and Apple continues to grow its installed base and services with higher revenue margins, “he added. “Apple’s ecosystem approach, including an installed base of more than 1.6 billion devices globally, should continue to generate strong revenue from services, and we expect that revenue growth from higher-margin services will not exceed total growth of the company. ”