For a brief period, the Saudi Aramco oil giant took over from Apple as the world’s most valuable company. A rally on Tuesday has since put the Mac-maker back on top, but all it would take is another bad day on Wall Street for Apple to lose the title again.
This comes after Apple has lost over 14% of its value in 2022, while Aramco gained about 28%.
Apple just became the first publicly traded U.S. company to be valued at a whopping $3 trillion. AAPL stock topped out at $182.88 a share Monday before dropping slightly, bringing the market cap back below the $3 trillion milestone.
Thanks to record-breaking revenue from its services business and strong growth from wearables, Apple is heading into its most important period of the year ready to cash in. Investors had plenty of questions for CEO Tim Cook and CFO Luca Maestri during today’s call. And the duo revealed some key tidbits we actually weren’t expecting.
The iPhone-maker brought in $53.8 billion in revenue, a number within range of its own guidance and most analysts’ predictions. That set a new record for Apple third-quarter revenue — a slight gain from Q3 2018’s $53.3 billion. CEO Tim Cook touted the company’s subscription offerings for fueling the new all-time high.
With revenues topping $58 billion Q2 (down 5% YoY), Apple is trying to become less reliant on its iPhone business. Services are expected to pick up most of the slack, but this last quarter Apple got some unexpected help from its iPad business that is experiencing a resurgence just at the right time thanks to the new iPad Pro.
Apple revealed its Q2 2019 earnings report and despite some pessimism from analysts, the company managed to beat Wall Street’s expectations.
Revenue for the quarter came in at $58 billion, slightly above Apple’s own guidance to investors. Most of Wall Street analysts were predicting the company would only bring in between $54 billion to $57 billion for the quarter. Better yet, the company’s guidance for next quarter is stronger than expected, signifying that the doom-and-gloom may have been severely overstated.
Wall Street is anxiously awaiting Apple’s earnings report for the second quarter of 2019 that will be delivered on Tuesday, April 30. Apple’s stock value has risen about 30% this year even though iPhone sales are slowing.
Most analysts predict that nearly all of Apple’s numbers will be down compared to the same quarter last year, but there are few bright spots that could cause the company’s stock price to surge. After looking at the analysts’ numbers, we’ve found a couple of key areas to watch for.
When Apple unveils its earnings report for last year’s crucial holiday quarter, the entire world will be watching for signs of the company’s long-rumored impending doom.
Several factors will make Tuesday’s Q1 2019 earnings call Apple’s most important in years. Depending on how it goes, it could have an enormous impact on the company’s stock’s performance in 2019 and beyond.
Apple just had its best September quarter of all-time and CEO Tim Cook couldn’t have sounded happier when he got on the phone with investors today. The company is heading into the holiday season with its best lineup ever and expects to set more records next quarter.
Investors did not seem to be too impressed with the results though. Apple’s stock price dropped from $222.22 to as low as $206 in after-hours training. Despite Wall Street’s worries about Apple, there was plenty of achievements for Tim Cook and Luca Maestri to boast about on today’s call.
There were the biggest revelations from today’s call: