- Apple (AAPL) launched outstanding results on Wednesday, Jan 27, beating expectations.
- AAPL got several analyst upgrades after outcomes.
- Apple shares will trade ex-dividend this week on Feb 5.
Apple (AAPL) revealed an excellent set of results recently, taking a lot of analysts by surprise and a lot of investors too. iPhone sales, Apple watch and Apple services all can be found in well ahead of expectations with China being a substantial increase. Earnings in China increased 57% year on year.
Apple Inc News: AAPL blowout results for Q1
Incomes per share (EPS) was $1.68, easily beating expert expectations of $1.41 per share. Earnings broke $100 billion, a record for Apple (AAPL). CFO Luca Maestri said that “December quarter company efficiency was fueled by double-digit growth in each item category, which drove all-time profits records in each of our geographic segments and an all-time high for our installed base of active devices.”
Sales of Apple’s signature product, the iPhone, increased by 17% and accounted for nearly 60% of all Apple’s incomes.
Some may see this as over-reliance on one product, but the iPhone is not likely to suffer whenever quickly. The newest variation, the iPhone 12 was launched late in 2020.
With the increased rollout of superfast 5G worldwide, sales of mobile phones and iPhones need to continue to see strong development. The iPhone 12 is 5G all set.
The only negative so far is the continuing growing pains of Apple TELEVISION. It is unclear whether Apple is completely committed to the streaming service as it offers year-long free trials with purchases of certain new Apple products therefore far has yet to make a severe damage on industry leaders Netflix (NFLX) and Disney. The streaming organization is becoming significantly competitive, Apple (AAPL) has crowds of money so, perhaps in the future, it will have to eye acquisitions if it wishes to remain competitive and grow in this space.
The upgrades simply keep coming
On the back of the record-breaking outcomes, experts hurried to update AAPL. Morgan Stanley increased its cost target for Apple (AAPL) to $164. Wedbush increased its price target to $175. Raymond James increased its rate target to $160 and Needham increased its rate target for Apple (AAPL) to $170. Deutsche Bank upped its AAPL rate target to $160. In total, on January 28, (the day after outcomes) 10 Wall Street analysts increased their rate target for Apple (AAPL).
Shares of Apple (AAPL) struck an all-time high of $145.09 prior to results and completed the week down over 8% as profit-taking struck the stock along with general broader market worries. Shares in Apple (AAPL) are still up over 70% over the last 12 months.
Apple (AAPL) technical analysis
Apple shares still satisfy the timeless requirements for an uptrend, a series of higher highs and greater lows. However shares fell back to the trendline support last Friday, which needs to hold to keep the uptrend in place. More worrying for the uptrend is the absence of new verifying highs in either the RSI or MACD. $125.34 is now essential assistance for the current bullish trend.
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