Apple reported an extremely good December quarter to open the company’s 2021 fiscal year. Strength was across the board in all products, services, and geographies. The results materially exceeded high expectations. Northlake sees two key long-term takeaways from the results. First, the iPhone remains healthy and is poised for several years of growth as 5G […]
There are no changes to Northlake’s favored themes for December. We remain neutral on growth versus value and continue to favor mid caps. As a result, current client positions following the models in the Russell 1000 Growth (IWF), the Russell 1000 Value (IWD), and the S&P 400 Mid Cap (MDY) will be held for at […]
Apple reported strong 4Q20 earnings with headline numbers for revenue and EPS ahead of Wall Street estimates. The stock responded by trading down -6%, however, due to the composition of revenue and a refusal to provide detailed top line guidance for the December quarter. Revenue was up 1% vs a year ago and about 2% […]
Apple reported a surprisingly robust quarter, beating expectations across the board. Revenues grew 11% vs a year ago, the best growth rate in almost two years. Margins rose modestly, which accompanied by continued share buybacks, allowed EPS to grow by 18%. The source of strength was broad. The small form factor, lower price iPhone SE […]
Apple reported better than expected 2Q20 earnings albeit after the company announced new guidance as COVID disruption closed the company’s stores in China, the U.S. and the rest of the world. The company did not provide its usual detailed guidance for the quarter ahead but did provide some big picture comments. iPhones and wearables will […]
Apple reported a strong 1Q20 and guided the current quarter nicely ahead of estimates on all key financial metrics. This is clearly a positive for Apple shares. However, the stock has soared recently, up 21% since Thanksgiving. Northlake sees the latest good news as largely reflected in the current price of Apple shares. Fundamentals are […]
Apple (AAPL) reported a beat and raise quarter affirming that the iPhone 11 cycle is proceeding better than expected. The report also contained good news with above consensus growth in Wearables and Services. Apple shares had discounted this good news, rising from a low of $170 in June to over $240 ahead of the report. […]
Apple (AAPL) reported in line 3Q19 results and released guidance for 3Q19 that is ahead of expectations. It is worth noting that revenues grew just 1% vs the year ago quarter and operating income fell -8.5%. Guidance calls for similar growth rates next quarter. The stock is trading up about 4% to its highest level […]
Apple (AAPL) reported weak but better than expected 2Q19 results and 3Q19 guidance. Revenues fell -5% for the second consecutive quarter. Operating profit fell -15% after declining -10% last quarter. EPS exceeded expectations but still declined -10% boosted by additional share repurchases. Net income fell -16%. Guess what? Amid all these negative numbers AAPL shares […]
Apple shares are responding well to a mixed earnings report and guidance update. The earnings for the December quarter were largely in line with the dramatically lower guidance the company issued earlier this month. News headlines discuss the revenue guidance for the March quarter as below consensus. However, it is clear that investors feared even […]
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