Apple's earnings report was better than expected, surging 6% after the market
[Apple's earnings report beat analysts' expectations, announcing 110 billion share repurchase plan] $Apple(AAPL.US$
Financial Highlights
• Total Revenue: $9.075 billion.
• Earnings Per Share: Record $1.53.
• Service business: YoY grew 14% by recording the highest revenue record in history.
Business news
• Apple has established sales records in many countries and regions around the world, including Canada, India, Spain, Turkey, etc.
• In terms of services, Apple achieved revenue records for all time, showing continued strong YoY growth of around 14%.
• YOY, which accounts for the largest share of iPhone revenue, decreased by 10%
New products and technologies
• Apple introduced Apple Vision Pro, a new spatial computing experience.
• For the corporate market, more than half of the Fortune 100 companies have purchased an Apple Vision Pro unit and are exploring the use of it to enable unprecedented applications.
Market and macroeconomic environment
• Despite the uncertainty in the macroeconomic and geopolitical environment, Apple remains optimistic about its business opportunities.
• Apple continues to be positive about the potential of artificial intelligence, particularly in terms of generative AI.
outlooks
• Apple expects total revenue of between $36.5 billion and $39 billion in the second quarter of 2024.
• The company plans to continue investing in technology and markets to support its AI strategy and respond to changing market demands.
Tim Cook said that total revenue for the June quarter may show a low single-digit percentage increase. Both service and iPad revenue are expected to increase by double digits. He still has a positive view on the long-term prospects of the Chinese business, and iPhone sales are growing in the mainland China market. He also reiterated that the company is making major investments in generative artificial intelligence: “Look forward to exciting product releases next week, and an incredible global developer conference next month.”
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生财有道致力于全方位成长投资。邱天雄老师曾是上市公司主要媒体的CEO领导，拥有超过20年的投资经验。主要投资美国，中国和大马。
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junclj1223 : After reading Nana, I said why even with the year-on-year decline, Apple was able to rise sharply after the market. The biggest reason is that Apple spent a lot of money to buy back stocks. Biggest repurchase ever. However, when it comes to the growth of the service industry, it's just me who just upgraded iCloud storage. 250GB (200GB+50GB Apple One) is not enough. Now it's upgraded to 2TB, and the monthly subscription fee for Apple is definitely essential. Instead, it does not decrease but rather increases.
生财有道OP junclj1223: There has been a significant improvement in service, and the expected decline in Iphone sales is already foreseeable. What's more important is Apple's $110 billion share repurchase plan