Tim Cook visits an Apple store in New York City on September 16.Kevin Mazur/Getty Images
Apple’s latest earnings report exceeded analyst expectations and alleviated concerns of a slowdown in iPhone sales.
The company launched a $90 billion stock buyback program and raised its quarterly dividend by 4%.
“Apple remains our top pick and this was another masterpiece performance by Cupertino,” Wedbush said.
Ongoing concerns of a slowdown in iPhone sales were put to rest on Thursday after Apple reported solid earnings results that exceeded analyst expectations on both the top and bottom line.
While revenues declined for the second quarter in a row, falling about 3% year-over-year, the company’s quarterly iPhone sales exceeded $51 billion, which beat analyst estimates by $2.5 billion. The strong sales in iPhone helped offset weakness in Apple’s Mac and iPad divisions.
For future growth, investors are looking forward to Apple’s expected September launch of the iPhone 15, as well as its expansion…
2023-05-05 22:14:19
Original from finance.yahoo.com