Apple’s Candied Earnings: AAPL Makes All Time Record for Revenue and Earnings.
Apple beats estimates.
Apple reported strong third quarter earnings yesterday which helped increase appetites for technology shares in general. Apple hit an all time record for revenue and earnings in the third quarter.
Apple Earnings Highlights:
- Mac sales of 3.95 million, up 14% from a year ago quarter.
- Record quarterly earnings 28.57 billion.
- 20.34 Million iPhones sold – which represents 142 percent growth from a year ago quarter.
- Apple sold 9.25 million iPads which is a 183 percent increase from a year ago quarter.
- Apple sold 7.54 million iPods which is a 20 percent decline from a year ago quarter.
Computer sales in general are down but Apple continues to grow although they are still far behind Microsoft Windows sales. The company admits that to some degree- iPad sales are softening some demand for Macs. Apple’s iPhone continues to be a top selling smartphone and the iPad has become the de facto standard for tablets. The news of Apple’s earnings sent shares of AAPL up in early trading over 5 percent.
Can Tech Help Ring In A ‘New Economy’
Tech continues to be a safe haven for the smart investor and tech giants like Apple are showing that innovation pays. The health of the U.S. Economy may be better gauged by examining tech companies like AAPL as opposed to the housing or banking sector that generally lack innovation aside from new instruments to sell to each other. Can the economy expand without housing and banking? It needs to.