Shares of Apple Inc NASDAQ: AAPL moved higher in Thursday's after-hours session following its fiscal Q2 earnings report, setting the stock up for a potential move back towards last December's highs. Apple has delivered strong quarters before, but this one lands differently.
The S&P 500 (^GSPC) clinched 7,200 for the first time ever yesterday, capping its best month since November 2020, and the index is set to open May trading on a high note.
Apple Inc. was rated Hold due to macroeconomic headwinds impacting risk/reward. AAPL's fundamentals remain strong, but rising rates and lower consumer income limit upside. Since the Hold rating, AAPL returned 0.55% versus the S&P 500's 5% gain.
They're all good smartwatches, but have their own strengths. Let's compare the details.
The so-called "iPhone Ultra" might dodge the problems of other book-style foldable phones with a hybrid iPhone-iPad interface.
The folding phone space is getting crowded, and Apple is expected to jump into the mix this year with what could be called the iPhone Ultra. CNET's Bridget Carey unfolds the rumors of how Apple's folding iPhone could stand out by giving users an iPad-like experience.
Apple is a CapEx-lite 'AI Adopter' with a differentiated strategy versus Tech peers, focusing on productization rather than AI model development. AAPL's closed ecosystem, premium positioning, and proprietary chips provide a strong foundation for consumer AI applications and potential "Edge AI" leadership. Any AI breakthrough, such as a human-like Siri, could drive device sales, with services remaining secondary in the near term. Upside for services exists long term within entertainment.
Sandisk (SNDK) delivered Q3 revenue of $5.95B, up 252% YoY, crushing estimates and guiding Q4 revenue and EPS well above consensus. Apple (AAPL) posted Q2 revenue of $111.18B and EPS of $2.01, both exceeding expectations, and increased its dividend by 4% while authorizing a $100B buyback.
Apple Inc (NASDAQ:AAPL) shares rose 2.75% in after-hours trading after the iPhone maker group reported quarterly results ahead of market expectations. Revenue came in at $111.18 billion for the March quarter, up 17%, beating forecasts of $109.46 billion.
Apple Inc. delivered another double beat in Q2, with revenues up 17% and EPS up 22% year-over-year. AAPL's growth is driven by strong iPhone sales, but its hardware outpaced services, slightly disappointing those seeking a services-led mix shift. Gross margin expanded on favorable product mix, though operating expenses rose 24%, outpacing gross profit growth and limiting operating leverage.
When Apple reported its quarterly earnings Thursday, CEO Tim Cook warned that memory constraints are intensifying. Cook said Apple will "look at a range of options," which analysts said could include raising prices or signing longer supplier agreements.
Apple's biggest overhang over the past two years just turned into one of its strongest earnings positives. In fiscal second-quarter results released on Thursday, the company said Greater China revenue rose to $20.497 billion, up 28% from a year earlier and comfortably ahead of Wall Street expectations of around $19–19.5 billion.