AAPL: No longer the Apple of Old?
Good:
+ Services revenue hit all time high
+ Increased dividend by 4% to $0.24 per share
+ Stock buyback plan authorized up to $90B.
Bad:
+ Increased dividend by 4% to $0.24 per share
+ Stock buyback plan authorized up to $90B.
Bad:
- Revenue fell 3% to $94.8 billion
- Significant slowdown in demand for Mac (-31%) and iPad (-13%)
- Significant slowdown in demand for Mac (-31%) and iPad (-13%)
Thoughts:
Overall, a terribly disappointing earnings for the largest public company in the world.
Even though the company's largest revenue generators (iPhone and services) managed to grow their sales, the growth was minimal.
The one saving grace might be that the company managed to grow its iPhone sales from the year-ago quarter even as the broader smartphone industry contracted nearly 15% during the same time.
Stock price is up after hours, further evidence of the disconnect between share price and business performance.
Overall, a terribly disappointing earnings for the largest public company in the world.
Even though the company's largest revenue generators (iPhone and services) managed to grow their sales, the growth was minimal.
The one saving grace might be that the company managed to grow its iPhone sales from the year-ago quarter even as the broader smartphone industry contracted nearly 15% during the same time.
Stock price is up after hours, further evidence of the disconnect between share price and business performance.
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