iPhoneSales News & Analysis
2 articles
Market Mood
Apple (AAPL) Q2 Earnings Exceed Estimates with Strong Sales
Apple (AAPL) reported its second-quarter earnings, surpassing analyst estimates thanks to strong iPhone sales and robust performance in China. The quarterly earnings per share were reported at $1.26, exceeding the expected $1.20. The company's revenue grew by 8% year-over-year, driven by a 15% increase in iPhone sales. This performance indicates Apple's resilience amid ongoing supply chain challenges and positions the company favorably for future market trends.
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Apple (AAPL) Shares Drop 2.5% as CEO Tim Cook Steps Down
Apple (AAPL) shares fell 2.5% on April 21 following the announcement that CEO Tim Cook will be replaced by John Ternus on September 1. The company is scheduled to report its fiscal Q2 earnings on April 30. In its last earnings report, Apple saw iPhone revenue reach $85.27 billion, a 23% year-over-year increase, and iPhone sales constitute nearly 60% of total revenue. Morgan Stanley has reiterated its $315 price target for Apple, citing strong expected performance from iPhone sales despite pressures from rising memory costs that may affect gross margins.
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