The post Apple Stock in Correction Following August Slump appeared first on theprimarymarket.com.
]]>Wall Street experts have identified several factors that have caused Apple’s stock to crumble. At the forefront is economic pressure out of China, where fears of a flailing property sector and a stagnant Chinese government that has been slow to provide economic stimulus are further fueling a gloomy economic outlook.
China is a key market for Apple, with its sales in the country rising by 8% over the most recent quarter to $15.76 billion. Sales of Apple iPhones in China rose by double digits as consumers moved to upgrade their smartphones. While Greater China provided Apple with $67.2 billion in sales in the fiscal year that ended Sept. 24, 2023, CEO Tim Cook warned that momentum might be lost due to the current Chinese economic climate.
“We continued to face an uneven macroeconomic environment,” Cook warned during an earnings call with investors.
The post Apple Stock in Correction Following August Slump appeared first on theprimarymarket.com.
]]>The post Apple Revenue Falls Amid Slump in iPhone Sales appeared first on theprimarymarket.com.
]]>The tech giant’s revenue for the three months ending June declined by 1.5% amid a third quarterly decline in iPhone sales. iPhones account for about half of Apple’s total revenue.
Revenue for the quarter came to $81.80 billion, narrowly edging out Wall Street estimates of $81.55 billion. Adjusted earnings per share were $1.26, ahead of analysts’ forecasts of $1.20.
In addition to iPhone sales, those for Mac computers were also on the decline. Company CFO Luca Maestri revealed that Apple expects sales for both devices to continue to decline by double digits from last year.
The post Apple Revenue Falls Amid Slump in iPhone Sales appeared first on theprimarymarket.com.
]]>The post Apple Closes in on $3 Trillion Stock Valuation appeared first on theprimarymarket.com.
]]>The highest-valued company on the New York Stock Exchange, Apple has added $690 billion in market cap since it embarked on its mission to boost its valuation. According to data from Yahoo Finance, the company has a current valuation of $2.74 trillion; just 9% away from the $3 trillion mark.
JP Morgan analyst Samik Chatterjee claimed that Apple has proven to be a safe investment option while also boasting growth opportunities. The company is expected to introduce the iOS 17 operating system shortly.
“Apple is different than the other businesses we own. It just happens to be a better business,” Berkshire Hathaway CEO Warren Buffett said at the company’s annual meeting in early May. Berkshire Hathaway purchased more Apple stocks this month, raising its holdings in the company to $151 billion.
The post Apple Closes in on $3 Trillion Stock Valuation appeared first on theprimarymarket.com.
]]>The post Apple Earnings Beat Estimates; iPhone Sales Surge appeared first on theprimarymarket.com.
]]>Despite a fall in overall sales, Apple’s iPhone sales surged by $51.33 billion, thereby beating estimates of $48.84 billion and driving the company’s profit for the quarter.
Apple’s reported a $24.16 billion net profit for the first quarter. This put the company’s gross profit margin at 44.3%, thereby narrowly beating Wall Street estimates of 44.1%. Earnings per share were $1.52, beating an estimate of $1.43 per share.
While the company was able to exceed expectations, finance chief Luca Maestri is expecting Apple’s overall revenue in the second quarter to decline by 3%.
“We expect our June quarter year-over-year revenue performance to be similar to the March quarter assuming that the macroeconomic outlook does not worsen from what we are projecting today for the current quarter,” Maestri revealed on a call with analysts.
The post Apple Earnings Beat Estimates; iPhone Sales Surge appeared first on theprimarymarket.com.
]]>The post Apple Triples India iPhone Production, Shifting Output From China appeared first on theprimarymarket.com.
]]>Now, Apple manufactures around 7% of its iPhones in India, which is the world’s fastest-growing smartphone manufacturing hub. the U.S.-based tech company is expanding its operations in India by adding more partnerships with companies operating in the region such as Foxconn Technology Group and Pegatron Corp.
In total, Apple exported $5 billion worth of iPhones in the year ended March 2023—four times the previous annual period. The company is also planning to start manufacturing its next iPhone in India at the same time as it begins production in China, likely in the fall of 2023.
Should this plan reach fruition, it will be the first time that Apple begins assembling a new line of iPhones concurrently in two countries. If the company persists with its expansion efforts, a quarter of all of its iPhones could be assembled in India by 2025.
The post Apple Triples India iPhone Production, Shifting Output From China appeared first on theprimarymarket.com.
]]>The post Apple Shipments Plummet in First Quarter appeared first on theprimarymarket.com.
]]>During the same period of Apple’s decline, shipments across PC makers across the industry slumped by 29% to 56.9 million units. This is below the levels experienced in 2019. According to IDC, the decline comes as pandemic-induced demand for PCs due to remote work and gaming continues to wane.
Market leaders Lenovo Group Ltd. and Dell Technologies Inc. also followed in Apple’s footsteps, both experiencing declines in PC shipments of more than 30%. HP’s shipments were down 24.2%, while Asustek Computer Inc. experienced a 30.3% fall.
Anurag Rana, a Bloomberg Intelligence analyst, contends that while PC market declines have continued for several consecutive quarters, a rebound in the second half of the year is still possible. According to IDC, the market slowdown gives manufacturers time “to make changes as many factories begin to explore production options outside China.”
The post Apple Shipments Plummet in First Quarter appeared first on theprimarymarket.com.
]]>The post Apple Set to Report Q1 Earnings After Closing Bell appeared first on theprimarymarket.com.
]]>Wall Street estimates for Apple’s Q1 revenue are $121.1 billion, just short of the company’s $123.9 billion revenue in 2022. Adjusted earnings per share are expected to be $1.94, shy of 2022’s figure of $2.10. While experts expect iPhone, Mac, and wearables revenues to decline compared to the previous year, iPad sales are expected to rise.
The company’s underwhelming earnings estimates come after Apple endured production disruptions including COVID lockdowns and worker protests at manufacturer Foxconn’s facility in Zhengzhou, China – the plant that produces the bulk of Apple’s iPhone 14 Pro and iPhone 14 Pro Max devices.
Despite shares being off 16% on Wednesday, Apple’s stock has continued to outperform much of its fellow Big Tech shares over the past year.
The post Apple Set to Report Q1 Earnings After Closing Bell appeared first on theprimarymarket.com.
]]>The post Apple Set to Reveal Q3 Earnings So Far appeared first on theprimarymarket.com.
]]>Due to a possible impending recession on the horizon, Bloomberg predictions seem to indicate that Apple’s revenue will slide in the year-over-year metric.
They’ve reported a bevy of bold predictions, starting with an optimistic one: an $81.4 billion to $82.7 billion overall revenue bump. This optimism comes from two specific sources—Apple services and the Mac. They predict services revenue to jump from $17.4 billion to $19.7 billion, and Mac revenue to hop from $8.2 billion to $8.4 billion.
However, that’s where the positive projections end. Most of Apple’s other products, according to Bloomberg, will actually experience a revenue dip. They project the iPhone to drop from $39.5 billion to $38.9 billion, the iPad to slide from $7.3 billion to $6.9 billion, and earnings per share to drop from $1.30 to $1.16.
Overall, this is a somewhat neutral perspective when taking into consideration how shaky other tech companies have been performing as of late. However, many financial experts are likely not even paying attention to these Bloomberg projections, set in the belief that the numbers will be more akin to that of their struggling peers.
The post Apple Set to Reveal Q3 Earnings So Far appeared first on theprimarymarket.com.
]]>The post Apple Stock in Correction Following August Slump appeared first on theprimarymarket.com.
]]>Wall Street experts have identified several factors that have caused Apple’s stock to crumble. At the forefront is economic pressure out of China, where fears of a flailing property sector and a stagnant Chinese government that has been slow to provide economic stimulus are further fueling a gloomy economic outlook.
China is a key market for Apple, with its sales in the country rising by 8% over the most recent quarter to $15.76 billion. Sales of Apple iPhones in China rose by double digits as consumers moved to upgrade their smartphones. While Greater China provided Apple with $67.2 billion in sales in the fiscal year that ended Sept. 24, 2023, CEO Tim Cook warned that momentum might be lost due to the current Chinese economic climate.
“We continued to face an uneven macroeconomic environment,” Cook warned during an earnings call with investors.
The post Apple Stock in Correction Following August Slump appeared first on theprimarymarket.com.
]]>The post Apple Revenue Falls Amid Slump in iPhone Sales appeared first on theprimarymarket.com.
]]>The tech giant’s revenue for the three months ending June declined by 1.5% amid a third quarterly decline in iPhone sales. iPhones account for about half of Apple’s total revenue.
Revenue for the quarter came to $81.80 billion, narrowly edging out Wall Street estimates of $81.55 billion. Adjusted earnings per share were $1.26, ahead of analysts’ forecasts of $1.20.
In addition to iPhone sales, those for Mac computers were also on the decline. Company CFO Luca Maestri revealed that Apple expects sales for both devices to continue to decline by double digits from last year.
The post Apple Revenue Falls Amid Slump in iPhone Sales appeared first on theprimarymarket.com.
]]>The post Apple Closes in on $3 Trillion Stock Valuation appeared first on theprimarymarket.com.
]]>The highest-valued company on the New York Stock Exchange, Apple has added $690 billion in market cap since it embarked on its mission to boost its valuation. According to data from Yahoo Finance, the company has a current valuation of $2.74 trillion; just 9% away from the $3 trillion mark.
JP Morgan analyst Samik Chatterjee claimed that Apple has proven to be a safe investment option while also boasting growth opportunities. The company is expected to introduce the iOS 17 operating system shortly.
“Apple is different than the other businesses we own. It just happens to be a better business,” Berkshire Hathaway CEO Warren Buffett said at the company’s annual meeting in early May. Berkshire Hathaway purchased more Apple stocks this month, raising its holdings in the company to $151 billion.
The post Apple Closes in on $3 Trillion Stock Valuation appeared first on theprimarymarket.com.
]]>The post Apple Earnings Beat Estimates; iPhone Sales Surge appeared first on theprimarymarket.com.
]]>Despite a fall in overall sales, Apple’s iPhone sales surged by $51.33 billion, thereby beating estimates of $48.84 billion and driving the company’s profit for the quarter.
Apple’s reported a $24.16 billion net profit for the first quarter. This put the company’s gross profit margin at 44.3%, thereby narrowly beating Wall Street estimates of 44.1%. Earnings per share were $1.52, beating an estimate of $1.43 per share.
While the company was able to exceed expectations, finance chief Luca Maestri is expecting Apple’s overall revenue in the second quarter to decline by 3%.
“We expect our June quarter year-over-year revenue performance to be similar to the March quarter assuming that the macroeconomic outlook does not worsen from what we are projecting today for the current quarter,” Maestri revealed on a call with analysts.
The post Apple Earnings Beat Estimates; iPhone Sales Surge appeared first on theprimarymarket.com.
]]>The post Apple Triples India iPhone Production, Shifting Output From China appeared first on theprimarymarket.com.
]]>Now, Apple manufactures around 7% of its iPhones in India, which is the world’s fastest-growing smartphone manufacturing hub. the U.S.-based tech company is expanding its operations in India by adding more partnerships with companies operating in the region such as Foxconn Technology Group and Pegatron Corp.
In total, Apple exported $5 billion worth of iPhones in the year ended March 2023—four times the previous annual period. The company is also planning to start manufacturing its next iPhone in India at the same time as it begins production in China, likely in the fall of 2023.
Should this plan reach fruition, it will be the first time that Apple begins assembling a new line of iPhones concurrently in two countries. If the company persists with its expansion efforts, a quarter of all of its iPhones could be assembled in India by 2025.
The post Apple Triples India iPhone Production, Shifting Output From China appeared first on theprimarymarket.com.
]]>The post Apple Shipments Plummet in First Quarter appeared first on theprimarymarket.com.
]]>During the same period of Apple’s decline, shipments across PC makers across the industry slumped by 29% to 56.9 million units. This is below the levels experienced in 2019. According to IDC, the decline comes as pandemic-induced demand for PCs due to remote work and gaming continues to wane.
Market leaders Lenovo Group Ltd. and Dell Technologies Inc. also followed in Apple’s footsteps, both experiencing declines in PC shipments of more than 30%. HP’s shipments were down 24.2%, while Asustek Computer Inc. experienced a 30.3% fall.
Anurag Rana, a Bloomberg Intelligence analyst, contends that while PC market declines have continued for several consecutive quarters, a rebound in the second half of the year is still possible. According to IDC, the market slowdown gives manufacturers time “to make changes as many factories begin to explore production options outside China.”
The post Apple Shipments Plummet in First Quarter appeared first on theprimarymarket.com.
]]>The post Apple Set to Report Q1 Earnings After Closing Bell appeared first on theprimarymarket.com.
]]>Wall Street estimates for Apple’s Q1 revenue are $121.1 billion, just short of the company’s $123.9 billion revenue in 2022. Adjusted earnings per share are expected to be $1.94, shy of 2022’s figure of $2.10. While experts expect iPhone, Mac, and wearables revenues to decline compared to the previous year, iPad sales are expected to rise.
The company’s underwhelming earnings estimates come after Apple endured production disruptions including COVID lockdowns and worker protests at manufacturer Foxconn’s facility in Zhengzhou, China – the plant that produces the bulk of Apple’s iPhone 14 Pro and iPhone 14 Pro Max devices.
Despite shares being off 16% on Wednesday, Apple’s stock has continued to outperform much of its fellow Big Tech shares over the past year.
The post Apple Set to Report Q1 Earnings After Closing Bell appeared first on theprimarymarket.com.
]]>The post Apple Set to Reveal Q3 Earnings So Far appeared first on theprimarymarket.com.
]]>Due to a possible impending recession on the horizon, Bloomberg predictions seem to indicate that Apple’s revenue will slide in the year-over-year metric.
They’ve reported a bevy of bold predictions, starting with an optimistic one: an $81.4 billion to $82.7 billion overall revenue bump. This optimism comes from two specific sources—Apple services and the Mac. They predict services revenue to jump from $17.4 billion to $19.7 billion, and Mac revenue to hop from $8.2 billion to $8.4 billion.
However, that’s where the positive projections end. Most of Apple’s other products, according to Bloomberg, will actually experience a revenue dip. They project the iPhone to drop from $39.5 billion to $38.9 billion, the iPad to slide from $7.3 billion to $6.9 billion, and earnings per share to drop from $1.30 to $1.16.
Overall, this is a somewhat neutral perspective when taking into consideration how shaky other tech companies have been performing as of late. However, many financial experts are likely not even paying attention to these Bloomberg projections, set in the belief that the numbers will be more akin to that of their struggling peers.
The post Apple Set to Reveal Q3 Earnings So Far appeared first on theprimarymarket.com.
]]>