Apple surprises with solid iPhone sales
Amid concerns of slow iPhone sales and lackluster demand for iPhone X, Apple has announced strong growth in revenue during the second quarter of 2018.
Apple also predicted revenue of $51.5 billion to $53.5 billion in the June quarter, ahead of the $51.6 billion Wall Street expected as of Monday evening, and the share repurchases in the March quarter drove Apple's cash net of debt down slightly to $145 billion. The iPhone maker reported $2.73 EPS for the quarter, topping the Zacks' consensus estimate of $2.69 by $0.04.
Other products like AirPods, Apple TV, Apple Watch, Beats headphones, HomePod, iPod Touch and other Apple-branded and third-party accessories saw an increase of nearly $4 billion, 38% more than the same quarter a year ago.
The iPhone continues to account for the bulk of Apple's revenues at just over 62% of the total.
Apple said it sold 9.1 million iPads during the quarter, up from the 8.9 million in the year-ago period. However, it was almost 10 percent down from $796 in the first quarter, a sign that the iPhone X (starting at $999) wasn't driving the majority of sales.
Separately, research firm Strategy Analytics issued a release Tuesday night that said Apple grew its global market share during the quarter and that the "ultra-premium iPhone X is proving relatively popular in some markets like China".
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Together we are going to see how great Knox County can be working together", said Jacobs after the ballots were counted. Jacobs, a former WWE wrestler and insurance agent, was up against Republican candidates Brad Anders and Bob Thomas .
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In a transaction dated March 07, 2018, the shares were put up for sale at an average price of $47.98, raking in a sum of $135,591. UBS began coverage on shares of Hess in a report on Wednesday, March 7th. 81 funds opened positions while 154 raised stakes.
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Tim Cook repeated multiple times during Tuesday's after-earnings call with analysts that the iPhone X was Apple's top selling phone every week during the March quarter, just as it was throughout the holiday quarter.
The iPhone X includes groundbreaking new technology like 3-D facial recognition, but it's expensive price likely deterred some would-be buyers. Maybe you want them to win by a few more points, but it's a Super Bowl victor.
Apple on Tuesday reported resilient iPhone sales in the face of waning global demand and promised $100 billion in additional stock buybacks, reassuring investors that its decade-old smartphone invention had life in it yet.
Announcing sales figures for the three-month period ending March 31, Apple said it sold 52.2 million handsets, up from 50.7 million a year ago, though down from 77.3 million during the previous quarter, which includes the busy holiday period. Apple's shares dipped 5.8 percent over the past month after several reports said the Cupertino, California, company was cutting back on production of the iPhone X because of poor sales. He added, "I don't buy the view that the market's saturated.I think the smartphone market is sort of the best market for a consumer product company in the history of the world".
The company, flush with a huge cash pile on strong earnings enhanced by the United States tax cut plan of 2017, announced $100 billion in new share buybacks plus a 16 percent boost to its quarterly dividend. Janus Henderson Group PLC lifted its position in Apple by 301.3% during the 2nd quarter. "And so we're working toward those things", he said. Paid subscriptions surpassed 270 million, across services, which is an increase from the 100 million in 2017.
The Australian dollar has fallen below the 75 United States cents mark, as the greenback surges to a three-month high - and the chance of an Australian rate hike happening any time soon looks even more unlikely. "We're thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearables".
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