Here's what Wall Street analysts thought of Apple's earnings report

Refurbished Apple TV 4K

With 77.3 million units sold, overall iPhone sales were down slightly year-over-year. When the dust settled, Apple recorded $88.3 billion in revenue, almost $4 billion more than the revenue it posted during the same quarter a year ago. Sixty-five percent of those revenues came from worldwide sales, Apple said, noting that the record sales came despite the fact that the 2018 quarter was one week shorter than the same quarter in 2017.

"It was a stellar quarter for iPhone", Cook said.

Apple has now confirmed that these updates will be released sometime in spring, according to a report by The Washington Post about the Justice Department's investigation into Apple's forced throttling practices.

Samsung remained the leader in the smartphone market for 2017 despite losing out to Apple in the fourth quarter. All these actions are solidifying a rumor about possible discontinuation of iPhone X that was raised by some industries and people.

IPhone buyers paid an average of more than $796 in Apple's fiscal first quarter, marking the first time that average selling price has topped $700.

Cook spent much of an earnings call with analysts playing up increasing revenue from Apple services, digital content, subscriptions, and products other than iPhones.

Apple Inc's hint of returning a ton of cash to shareholders was not enough to move investors who anxious more about the iPhone maker's weak outlook amid reports of production cuts for its flagship iPhone X. "Amount of orders is being reduced by more than 50% every quarter and there are not any scheduled orders for the second half of this year as of now." said a representative for a component manufacturer. Samsung shipped 74.1 million units (-4.4 percent) in Q4 and 317.3 million (+1.9 percent) in 2016.

The CFO told Bloomberg that Apple ultimately plans to hold an equal amount of cash and debt without specifying when this would happen. Apple will discuss the plans in full when it reports March quarter results. Apple was able to make up for lower-than-expected iPhone unit sales in a number of ways: Its services business is booming, for example, and the average price for the iPhones that it did sell was high.

For the second quarter of fiscal year 2018, Apple forecasts revenue between $60 billion and $62 billion and a margin between 38 percent and 38.5 percent. Those customers may opt instead for older, cheaper iPhone models that Apple has kept in its lineup.

However, despite this shortfall in sales iPhone revenue is up a whopping 11.69% to an incredible $61.58 billion dollars, compared with the same period past year.

Global sales accounted for 65 percent of Apple's sales during the quarter, the company said.

While some were quick to pounce on a year-over-year decrease in iPhone sales as evidence that we've reached peak iPhone - a sentiment analysts have been hurling at Apple for quite a few years now - a closer look at the numbers reveals that the strength of Apple's iPhone line remains incredibly healthy, if not under-appreciated.

On a conference call with analysts, Apple executives were also pressed on the impact that offering more affordable iPhone battery replacements may have on smartphone upgrades.

Apple said it expected its tax rate for the March quarter to be 15 percent following changes in USA tax law.



Latest news

Microsoft Corp (NASDAQ:MSFT) Institutional Investors Sentiment Drops in Q3 2017
Bingham Osborn And Scarborough Ltd Co holds 0.11% of its portfolio in Microsoft Corporation (NASDAQ:MSFT) for 15,872 shares. After looking for stocks with higher betas, we can see that Microsoft Corporation (NASDAQ:MSFT) has a current beta of 1.02.

United Technologies (NYSE:UTX) Lowered to "Hold" at Zacks Investment Research
Usa Financial Portformulas Corp decreased Lhc Group Inc (NASDAQ:LHCG) stake by 4,521 shares to 5,225 valued at $371,000 in 2017Q3. It improved, as 63 investors sold UTX shares while 503 reduced holdings. 30 funds opened positions while 80 raised stakes.

London mosque attacker jailed for at least 43 years
In a statement, she described how the family faced an agonising wait for Mr Ali's death to be confirmed. The Met Police said "warped" Osborne had been "radicalised" in a matter of weeks prior to his attack.

Alphabet's Earnings Disappoint. Blame It on the iPhone
Alphabet Inc . (GOOGL)(GOOGL) shares plunged in the extended session Thursday after the company reported fourth-quarter earnings . Ruth Porat, Alphabet's chief financial officer, said the company expects those traffic acquisition costs will continue to climb.

United States implementing restrictions on export of defence articles, services into South Sudan
South Sudan's leaders aren't just failing their people, "they are betraying them", Ms Haley said. Conflict has devastated South Sudan, causing a humanitarian, political and economic crisis.

Other news