{"id":4627,"date":"2023-05-05T12:15:10","date_gmt":"2023-05-05T16:15:10","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/apple-stock-soars-on-earnings-beat-its-all-about-the-iphone-again\/"},"modified":"2023-05-05T12:15:11","modified_gmt":"2023-05-05T16:15:11","slug":"apple-stock-soars-on-earnings-beat-its-all-about-the-iphone-again","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=4627","title":{"rendered":"Apple Stock Soars on Earnings Beat. It’s All About the iPhone, Again."},"content":{"rendered":"
\n
<\/p>\n
<\/p>\n
<\/div>\n<\/figure><\/div>\n

Shares of
\n Apple
\n shot higher Friday after the company\u2019s latest quarterly results came in better than analysts expected. <\/p>\n

For the fiscal second quarter, Apple (ticker: AAPL) reported earnings of $1.52 a share, on revenue of $94.8 billion.<\/p>\n

Analysts polled by FactSet expected earnings of $1.43 a share, with sales of $92.9 billion.<\/p>\n

\n

The stock was up 4.3% Friday, the morning after the release of the earnings report. Shares are on pace for their largest percentage increase since November when it rose 4.9%, according to Dow Jones Market Data. <\/p>\n

Most of the revenue beat was driven by stronger than expected sales for in the company\u2019s iPhone unit, which generated revenue of $51.33 billion in the quarter, up 1.5% from a year ago. Wall Street expected quarterly iPhone sales of $48.66 billion.<\/p>\n

Services revenue of $20.91 billion was a touch below\u00a0estimates of $20.96 billion. Mac revenue of $7.17 billion was below estimates at $7.78 billion. iPad revenue of $6.67 billion was in line with expectations. Wearables, home and accessories revenue was $8.76 billion, ahead of expectations of $8.38 billion .<\/p>\n

\u201cWe are pleased to report an all-time record in Services and a March quarter record for iPhone despite the challenging macroeconomic environment, and to have our installed base of active devices reach an all-time high,\u201d CEO Tim Cook said in the earnings release. \u201cWe continue to invest for the long term and lead with our values, including making major progress toward building carbon neutral products and supply chains by 2030.\u201d<\/p>\n

The company said it would increase its dividend by 4% to 24 cents a share. It will be payable on May 18 to shareholders of record at the close of business on May 15. The board also authorized an additional share repurchase program buying back up to $90 billion in stock.<\/p>\n

During the company\u2019s earnings call, Chief Financial Officer Luca Maestri said the company expects its June quarter revenue growth to be similar to its March performance, which saw revenue fall 3%. <\/p>\n

\n Apple
\n joins its Big Tech peers reporting fairly positive reports. Reports from
\n Microsoft
\n (MSFT),
\n Alphabet
\n (GOOGL), and
\n Meta Platforms
\n (META) were mostly well received by Wall Street.
\n Amazon.com
\n \u2018s results topped estimates but a weak outlook around the cloud sent shares falling. Apple investors are hoping the firm follows in Microsoft\u2019s footsteps, and not Amazon\u2019s.<\/p>\n

J.P. Morgan analyst Samik Chatterjee, who rates Apple at Overweight with a $190 price target, wrote Wednesday that Wall Street will be paying attention to the firm\u2019s commentary about the current quarter. The FactSet consensus call for the June quarter is for earnings of $1.21 a share and sales of $84.5 billion.<\/p>\n

Shares of Apple are up 28% this year, and roughly flat over the last 12 months.<\/p>\n

Write to Connor Smith at connor.smith@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Apple shot higher Friday after the company\u2019s latest quarterly results came in better than analysts expected. For the fiscal second quarter, Apple (ticker: AAPL) reported earnings of $1.52 a share, on revenue of $94.8 billion. Analysts polled by FactSet expected earnings of $1.43 a share, with sales of $92.9 billion. The stock was […]<\/p>\n","protected":false},"author":1,"featured_media":4628,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-4627","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nApple Stock Soars on Earnings Beat. It's All About the iPhone, Again. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of Apple shot higher Friday after the company\u2019s latest quarterly results came in better than analysts expected. For the fiscal second quarter,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=4627\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Apple Stock Soars on Earnings Beat. It's All About the iPhone, Again. | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Shares of Apple shot higher Friday after the company\u2019s latest quarterly results came in better than analysts expected. For the fiscal second quarter,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=4627\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-05T16:15:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-05T16:15:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/1683303310_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=4627#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=4627\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Apple Stock Soars on Earnings Beat. It’s All About the iPhone, Again.\",\"datePublished\":\"2023-05-05T16:15:10+00:00\",\"dateModified\":\"2023-05-05T16:15:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=4627\"},\"wordCount\":460,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=4627#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=4627\",\"url\":\"https:\/\/ifintechworld.com\/?p=4627\",\"name\":\"Apple Stock Soars on Earnings Beat. It's All About the iPhone, Again. | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-05-05T16:15:10+00:00\",\"dateModified\":\"2023-05-05T16:15:11+00:00\",\"description\":\"Shares of Apple shot higher Friday after the company\u2019s latest quarterly results came in better than analysts expected. For the fiscal second quarter,\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=4627#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=4627\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=4627#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Apple Stock Soars on Earnings Beat. It’s All About the iPhone, Again.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Apple Stock Soars on Earnings Beat. It's All About the iPhone, Again. | iFintechWorld","description":"Shares of Apple shot higher Friday after the company\u2019s latest quarterly results came in better than analysts expected. For the fiscal second quarter,","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=4627","og_locale":"en_US","og_type":"article","og_title":"Apple Stock Soars on Earnings Beat. It's All About the iPhone, Again. | iFintechWorld","og_description":"Shares of Apple shot higher Friday after the company\u2019s latest quarterly results came in better than analysts expected. For the fiscal second quarter,","og_url":"https:\/\/ifintechworld.com\/?p=4627","og_site_name":"iFintechWorld","article_published_time":"2023-05-05T16:15:10+00:00","article_modified_time":"2023-05-05T16:15:11+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/1683303310_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=4627#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=4627"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Apple Stock Soars on Earnings Beat. It’s All About the iPhone, Again.","datePublished":"2023-05-05T16:15:10+00:00","dateModified":"2023-05-05T16:15:11+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=4627"},"wordCount":460,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=4627#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=4627","url":"https:\/\/ifintechworld.com\/?p=4627","name":"Apple Stock Soars on Earnings Beat. It's All About the iPhone, Again. | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-05-05T16:15:10+00:00","dateModified":"2023-05-05T16:15:11+00:00","description":"Shares of Apple shot higher Friday after the company\u2019s latest quarterly results came in better than analysts expected. For the fiscal second quarter,","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=4627#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=4627"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=4627#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Apple Stock Soars on Earnings Beat. It’s All About the iPhone, Again."}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/4627","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4627"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/4627\/revisions"}],"predecessor-version":[{"id":4629,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/4627\/revisions\/4629"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/4628"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}