Apple's higher-end iPhone X (or iPhone 10) is available for sale today, Friday November 3, 2017. The stock has jumped up significantly, from a $168.00 at the end of the trading day on Thursday to $174.26 at the beginning of the trading day on Friday. AroniSmartInvest in Action™ has included the stock on the list to watch for potential upside opportunities since 2016. Since then, Apple stock has increased by more than 50%.
The jump follows the announcement of Apple financial results for its fiscal 2017 fourth quarter that closed on September 30, 2017. The financial results topped Wall Street and analysts' estimates.
They showed a quarterly revenue of $52.6 billion, an increase of 12 % from the year-ago quarter, and quarterly earnings per diluted share of $2.07, up 24 percent.
International sales, that most feared slowing down, accounted for 62 percent of the revenues. With the announcement, Apple has set even more ambitious financial guidance for 2018, including:
- revenue between $84 billion and $87 billion
- gross margin between 38 percent and 38.5 percent
- operating expenses between $7.65 billion and $7.75 billion
- other income/(expense) of $600 million
Among the drivers of the projected performance are the newly launched products including iPhone X, iPhone 8, iPhone 8 Plus, Apple Watch Series 3, and Apple TV 4K
Among other major drivers are Apple’s services segment consisting of App Store, Apple Music, Apple Pay and other services. iPad have also seen uptakes driven by demand from schools and students.
Apple’s board of directors has declared a cash dividend of $0.63 per share of the Company’s common stock, payable on November 16, 2017 to shareholders of record as of the close of business on November 13, 2017.
Disclaimer: AroniSoft LLC or its managers own Apple shares in their portfolio.
