'NEW ENERGY': Analysts are bullish about Apple's strong Q4 earnings
Getty
- Apple reported its fourth-quarter earnings on Thursday.
- It beat Wall Street's expectations, with strong results across all of its product lines.
- The forecast for Q1 2018 is also good, and most analysts are upping their price target for the stock.
Apple announced its earnings for the fourth quarter of 2017 on Thursday, and blew past analysts' expectations.
The company displayed strength across all of its key product lines - iPhone, iPad, and Mac - reporting profits of $10.7 billion (£8.1 billion) on $52.6 billion (£40.2 billion) of revenue.
The firm sold 46.7 million iPhones, 10.3 million iPads, and 5.4 million Macs, and briefly crested a $900 billion (£689 billion) market capitalisation in the after hours, with shares up 3%.
Apple's services experienced particularly strong momentum, with a 34% increase year-over-year (YoY), 18% quarter-over-quarter (QoQ), and a $8.5 billion (£6.5 billion) in revenue, which would put it at no. 95 on the Fortune 500 list.
The company is especially bullish about the next quarter, too, in anticipation of the upcoming holiday season; CEO Tim Cook said that the company is "literally firing on all cylinders," with strong revenue guidance ranging from $84 to $87 billion (£64-£66.5 billion).
The new flagship product, the iPhone X, goes on sale today (Friday 3 November).
Keep reading to see a complete roundup of analysts' reactions to Apple's Q4 earnings, but first, here is a recap of the key numbers:
Revenue: $52.6 billion (£40.2 billion) versus $50.7 billion (£38.8 billion) expected
iPhone unit sales: 46.7 million versus 46 million expected (up 2% YoY)
Adjusted EPS (GAAP): $2.07 (£1.58) vs $1.87 (£1.43) (up 24% YoY)
Q1 2018 forecast: $84 billion (£64 billion) to $87 billion (£66.5 billion), with a midpoint slightly above the $85.2 billion ($65.2 billion) expectation.
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- 2 states where home prices are falling because there are too many houses and not enough buyers
- "To sit and talk in the box...!" Kohli's message to critics as RCB wrecks GT in IPL Match 45
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance