Jim Cramer is buying into another one of his positions, taking a Super Bowl bet that he's prepared to cash in, even after the World Cup. See which consumer company he likes. And Apple disappointed with iPhone sales and forward looking guidance - have investors gotten too accustomed to wins from Tim Cook?
Apple investors are a tough crowd these days- the company's earnings beat forecasts- as did revenues. Apple sold more iPhones than ever for the September quarter- and iPad sales were up as well. Mac sales were better than expected. Apple raised their 4th quarter guidance. And even signaled a strong holiday season. But the stock reaction was one of indecision- it fell immediately after the report- only to regain ground later on. Alex Gauna covers Apple for JMP securities:
Apple reported a ho-hum third quarter with revenue a touch below estimates while bottom-line growth exceeded expectations. The iPhone maker reported profits of $1.28 a share, $0.05 cents higher than analyst consensus and up around 20% year over year. Meanwhile, revenue of $37.4 billion was 6% higher year over year but fell around $500 million short of estimates. Breaking it down by category, Apple sold just over 35 million iPhones (inline with estimates), a little north of 13 million iPads (belo
Apple's fiscal Q3 earnings fell 22%, registering weaker margins and lower iPad sales, though iPhone sales exceeded estimates. Neil Mawston, Executive Director of Strategy Analytics, has details. Photo: Getty Images.
Apple reported earnings on Wednesday of $11.62 on $45.6 billion in revenues for its second quarter fiscal 2014 results, beating analysts’ estimates of $10.18 a share on $43.53 billion in revenue. Investors eagerly watched iPhone unit sales. Looking ahead investors want more product innovation. The iPad with retina display and Carplay are expected to boost growth and profitability. Apple also announced it will increase its share repurchase authorization to $90 billion and increase its dividend.
Markets closed lower Wednesday, ending the S&P's longest winning streak since last September. Earnings were mixed with all eyes to Apple and Facebook after the closing bell - results expected to set the tone for markets on Thursday. Apple has fallen around 5 percent this year amid tepid iPhone and iPad sales. Ukraine tensions continue while Chinese economic data was poor. New U.S. home sales plunged in March, adding to the negative tone. Jane Searle speaks with Matt Cheslock at the NYSE.
Apple’s earnings are out, and there’s a narrative contained therein of the emerging importance of China. The company revealed to the FT that iPhone sales are up 55 percent year over year and Chinese iPhone sales are up 48 percent, with the iPad sales in that country rising 51 percent year over year despite falling slightly globally.
Apple's earnings report indicated strong iPhone sales and weaker iPad sales, but previews of coming products may be the keys to watch for from Apple for the rest of the year. Walter Piecyk, BTIG analyst, joins MoneyBeat with Paul Vigna.
The latest round of earnings reports were less than stellar and that made for a less than stellar day on Wall Street. Blue chips tumbled triple digits; The S&P 500 and the Nasdaq - down hard three of the last four sessions. Apple led the slide. The gadget maker reports next week, but there's renewed speculation demand for iPhones and iPads is weakening. The hint: a somber outlook from a key Apple supplier. At one point, shares broke below $400 for the first time since December 2011.