Apple reported earnings following the bell on Tuesday that beat analysts expectations. The company reports 1.96 a share on 51.5 Billion dollars in revenue. The street expected 1.88 a share on 51.1 in revenue.
As for details - the one that matters to most is iPhone sales. Apple sold 48.04 Million units in the quarter, up from 39 Million in the year ago quarter. Tim Cook said on the conference call that there is an increase of conversions from Android users and also that only 30% of the iPhone user base are on models 6 and newer, which bodes well for sales during the Christmas season.
Apple did guide conservatively for the next quarter, but that's nothing new for this company. The cash horde rose to 206 Billion.
The stock is up slightly after-hours. It's worth watching what happens the next couple of days. Buy shares on any weakness.
Short term rating = BUY
Long term rating = BUY
As for details - the one that matters to most is iPhone sales. Apple sold 48.04 Million units in the quarter, up from 39 Million in the year ago quarter. Tim Cook said on the conference call that there is an increase of conversions from Android users and also that only 30% of the iPhone user base are on models 6 and newer, which bodes well for sales during the Christmas season.
Apple did guide conservatively for the next quarter, but that's nothing new for this company. The cash horde rose to 206 Billion.
The stock is up slightly after-hours. It's worth watching what happens the next couple of days. Buy shares on any weakness.
Short term rating = BUY
Long term rating = BUY