Apple's shares shot up over US$40 in after hours trading following the company's strong second quarter earnings report on Wednesday, and continued to climb over night. Shares were up 8.53 percent in Thursday morning's pre-market trading, which didn't fit with the price drop Apple's shares often see after an earnings report.
Shares of Apple Inc. jumped 7.68 percent during the after hours session after Apple blew away its own guidance and Wall Street's consensus estimates. Trading in the after hours market is always exaggerated when it comes to $AAPL, but a sharp increase indicates that investors were pleased with Apple's results.
During Apple's 2014 Q2 Earnings Report, some technical issues related to channel inventory for iPad sales were explained, so the Q2 results aren't as bad as they look. Nevertheless, sales have flattened and UBS analyst Steve Milanovich wanted to hear more. He got an earful.
Apple announced a US$130 billion expansion to its stock dividend program, and announced a 7-to-1 stock split on Tuesday. The news came on the heels of the iPhone and iPad maker's second fiscal quarter earnings where it reported $45.6 billion in earnings.
Apple reported its fiscal second quarter results on Tuesday, and the company beat Wall Street's estimates. Apple reported revenue of $45.6 billion with earnings of $10.2 billion, or earnings per share (EPS) of $11.62. That's up year over year, and tops consensus estimates from analysts of $9.07 billion in revenue with EPS of $10.18. The article has been updated with additional information.
Apple's second fiscal quarter earnings conference call for 2014 is scheduled for Wednesday, April 23, and will come with the usual watchful eyes of investors and analysts looking to see exactly how the company performed post-holiday season. Analysts will be watching Apple's iPhone and iPad sales figures closely, and The Mac Observer will offer our usual news coverage and analysis of the event.
Apple is reportedly pushing carriers for a US$100 increase in the price it plans to charge for the iPhone 6. Carriers have been resistent to raising the iPhone's price, but will likely succumb and pass on the cost to their customers, according to Jeffries analyst Peter Misek.
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Driving up the iPhone's price by $100 doesn't sound like a smart idea in a market where Apple wants to draw in more smartphone customers instead of driving them to cheaper Android-based products. Jeffries analyst Peter Misek thinks that's what Apple has in store, however, and that it won't have a negative impact on sales. Color us skeptical.
Forbes contributor Chuck Jones spelled out his predictions about Apple’s March quarter in a reasonable sounding piece based on Apple's own guidance and reality. Kelly is very confused about how this got posted.
Deutsche Bank analyst Sherri Scribner initiated coverage of Apple's stock on Friday with a US$650 target price, saying the company likely has some surprises in store. Apple hasn't released any new products yet in 2014, but company CEO Tim Cook has said that there would be big announcements throughout the year.
Apple announced on Monday that it will hold its March quarter conference call with analysts on Wednesday, April 23rd, at 5:00 PM EDT. The march quarter is Apple's 2nd fiscal quarter, and the event will be webcast.
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