The new design complete with a notch initially did not impress many. However, this didn't stop Apple to achieve the top position. The iPhone maker reported $2.73 earnings per share for the quarter, beating analysts' consensus estimates of $2.69 by $0.04. The company dominates the budget smartphone market with a wide range of high-specced value-for-money phones under its Redmi-series. The iPhone X2, iPhone X Plus and iPhone X SE (all models names to be confirmed) will still use the Lightning connector, Apple simply uses USB-C on all its fast chargers. It's quite rare we see that happening, but when it comes to Apple and iPhone, expected the unexpected.
Lately there's been a lot of doubt about the iPhone. Over the last quarter, insiders have sold 125,988 shares of company stock valued at $21,336,201. All this near-term noise around iPhone X demand is just that - noise.
Several brokerages recently commented on AAPL. Beats dominate the trend-oriented demographic in the headphone market. The company had revenue of $61.14 billion during the quarter, compared to analysts' expectations of $60.94 billion.
DA Davidson initiated coverage on shares of Apple (NASDAQ:AAPL) in a research report released on Monday morning, Marketbeat Ratings reports. That is a big deal. That could lead to Apple having some more iPhones than they were able to sell right away, which would lead to a reduction in supply orders.
No company benefited more from that cut than Apple, which had accumulated more than $250 billion outside the US during the past decade, thanks to the huge popularity of the iPhone and other products. Apple already has been raising its dividend and spending on buybacks every year since 2012; it's not known how much of the new increase would have happened regardless of the tax break.
For the last few months, there has been growing concern over the fate of the smartphone.
Again, three years ago, the Services business was under $5 billion. Thus, as goes the Service business, so goes the company's profitability.
"I think the smartphone is sort of the best market for a consumer product company in the history of the world", Apple CEO Tim Cook said on Tuesday. It is an increasingly multi-faceted hardware company with a burgeoning software segment.
Cook suggested new services are in the works and that Apple's installed base of devices grew by double digits from a year earlier. Eight analysts have provided estimates for Apple's earnings, with the highest EPS estimate coming in at $2.77 and the lowest estimate coming in at $2.65.
Apple has promised $100 billion in additional stock buybacks, reassuring investors that its decade-old smartphone invention had life in it yet.
Overall, now feels like a good time to own AAPL stock.
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