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Friday, February 2, 2018

RECORD Q1 FOR APPLE

Apple had a record quarter in the period ended 12/30, posting a quarterly revenue of $88.3 billion, an increase of 13% from the year-ago quarter.

Revenue from services, which include Apple Music and iTunes, were up significantly when compared with Q1 2017: $8.47b vs. $7.17b. The quarter was down slightly from last quarter's $8.5b.

Apple predicts that Q2 of fiscal 2018 will see revenue between $60b and $62b and operating expenses of about $7.6b.

“iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November,” said Apple CEO Tim Cook. “We’ve also achieved a significant milestone with our active installed base of devices reaching 1.3 billion in January. That’s an increase of 30% in just two years.”

Wall Street analysts, however, are predicting a slowdown in iPhone sales and have started to downgrade the stock. Apple was down 4% this morning to between $163 and $164 a share, taking its market cap to around $830b.

 
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