iTunes billings are up 25 percent year over year and Apple says its little music, movie, and mobile app sales through the iTunes Store made up the fastest growing part of its business over the past three fiscal quarters. That includes the 75 billion App Store downloads the company previously announced earlier this month.
Apple shareholders will be getting a dividend this quarter, according to company CFO Luca Maestri, to the tune of US$0.47 per share. Mr. Maestri shared that little tidbit during the iPhone and iPad maker's third fiscal quarter earnings report Tuesday afternoon.
Apple announced results for its third fiscal quarter Tuesday, reporting record revenue of US$37.4 billion, with earnings of $7.7 billion (earning per share (EPS) of $1.28 per share). Apple said its EPS growth was 20 percent year-over-year, its highest rate of EPS growth in the last seven quarters. iPhone and Mac sales drove growth.
Apple's third fiscal earnings report for 2014 is scheduled to start this afternoon at 5PM eastern time after the market closes. The conference call for analysts and investors will include the company's quarterly revenue and profit numbers, as well as sales figures for the iPhone, iPad and Mac product lines. The Mac Observer will be at the ready with our usual event coverage, so be sure to check in with us for the latest on Apple's revenue and product sales numbers.
Zachs analysts are rating Apple's stock as Neutral ahead of Tuesday's third fiscal quarter earnings report. The firm sees the upcoming iPhone 6 and rumored iWatch as big sellers for the company, but competition in the smartphone space will have an impact on Apple's bottom line.
Apple's third fiscal earnings report for 2014 is set for Tuesday, July 22. The conference call for analysts and investors will start around 5PM eastern time after the market closes, and The Mac Observer will be at the ready with our usual event coverage. Be sure to check in with us for the latest on Apple's revenue and product sales numbers.
Citigroup's Jim Suva started covering Apple's stock for investors again on Wednesday with a US$110 target price. Like other analysts, he expects the introduction of the iPhone 6 will have a positive impact on revenue, and he also thinks other analysts are underestimating consumer demand once the new iPhone model is released.
Barclays analyst Ben Reitzes has upgraded Apple stock from Equal Weight status to Overweight and set a price target for AAPL at US$110. That's based on a belief that CEO Tim Cook has solidified his strategy, regained the confidence of stockholders and reversed warning signs seen earlier in the year.
Apple is poised to sell the iPhone 6 in big numbers, and will charge more for the expected bigger display, according to Canaccord Genuity analyst Michael Walkley. He thinks high demand plus a bigger price tag will turn into even more sales worldwide, so he's raising his target price for the company's stock from US$102 up to $112.
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Analysts have high expectations for the iPhone 6. If Apple doesn't live up to those expectations get ready for the usual "Apple is doomed" reports.
Apple CEO Tim Cook is looking to expand his company's board of directors, according to a report from The Wall Street Journal. Citing unnamed sources, the paper said that Mr. Cook is "actively seeking new directors" to add to the eight-member board, a remarkably small board for a company as large as Apple.
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