There is no super cycle at Apple but business fundamentals at Apple still look solid. Apple reported earnings in line with Wall Street estimates but ahead of fears. Guidance for the next quarter was ahead of recently lowered investor expectations. The key takeaways from Apple’s quarter are: iPhone units volumes are not collapsing, growing 3% […]
Apple (AAPL) reported strong growth but mixed results relative to expectations for its 1Q18 ending December 31st. iPhone unit sales fell short of still high expectations but higher than expected average selling prices allowed revenue growth to match or exceed Wall Street estimates. Specifically, iPhone unit sales fell a little short of the 80 million […]
Apple (AAPL) reported good September quarter earnings driven by better than expected revenue everywhere but iPhones. Profit margins were a little light driven by the mix shift away from iPhones. A lower tax rate assisted the revenue upside to produce EPS about 10% ahead of consensus estimates. The critically important guidance for the holiday quarter […]
Apple reported a mostly inline March quarter and issued guidance for June quarter that was within its usual range. Revenues for the March quarter fell slightly short of estimates driven by iPhone unit shipments of 50.8 million compared to consensus of 52.3 million. That equates to about $1 billion in lost revenue relative to expectations. […]
Apple reported a good holiday quarter relative to muted expectations. The company got back on a growth track, albeit modest, after three straight quarters of declining revenue and iPhone shipments. With revenues up 3%, EPS up 2%, and iPhone shipments up 5%, Apple is no longer the growth stock we once knew. But it does […]
Apple reported largely inline results for its 4Q16 ending September 30. Guidance for 1Q16, encompassing the very large holiday quarter, also was close to Wall Street expectations. The shares are trading off several percent this morning following last night’s report and conference call. We see this mostly as a result of the 25% move higher […]
Apple (AAPL) reported mostly inline results for its 3Q16 report. Slight upside existed across most key financial and unit volume metrics. Guidance for the current quarter ending 9/30/16 was similar. Given recent sentiment surrounding AAPL, this was good enough to allow the shares to rebound in their initial response to the report, up 7-8%. AAPL […]
Apple (AAPL) reported a disappointing quarter and issued guidance for the June quarter that was below expectations. Missing the quarter on revenue and EPS is highly unusual for Apple. There have been times in the past where guidance was considered disappointing but missing against consensus expectations on revenue and EPS is unusual. Shipments of iPhones […]
Apple reported December quarter results in line with recently lowered Wall Street expectations. A much greater focus for investors was guidance for the current quarter. Apple released guidance that was below Wall Street analyst estimates but similar to the much lower expectations held by large investors like hedge funds and mutual funds. It is not […]
Northlake clients have owned Apple (AAPL) since early 2005, a period now covering over 40 quarterly earnings reports and conference calls. The most recent report and quarter ahead guidance issued earlier this week was the closest match to Wall Street estimates so far. Granted when Tim Cook took over as CEO, the company changed its […]
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