Apple’s recent product launches and the Thanksgiving/Christmas shopping season may be coming together in one giant perfect storm — the good kind. Cantor Fitzgerald analyst Brian White says the company’s sales performance in November was very likely the strongest in history.
In 2012, Apple sold $157 billion worth of iPad, iPhones, Macs, songs, apps, and other assorted technological goodies, making almost $42 billion in profit. This past fiscal year, Apple sold a staggering $171 billion worth of iMerch, but only made $37 billion in profit.
Just after the launch of the very-successful iPhone 5S and the not-quite-as-hot iPhone 5C, Apple told analysts to expect $36-37 billion in revenue and perhaps $7 billion in profit for its fourth quarter of 2013.
iPhone sales jumped dramatically at Verizon. And Morgan Stanley analyst Katy Huberty recently upped her forecast of the number of phones Apple is selling this quarter.
Are we in for some surprises with Apple earnings next week?
Apple stock dropped below $400 again as an analyst lowered his forecast for the company. Wall Street, apparently, is losing faith that Apple can return to its brief glory days of 2012 as the mobile-fueled technology highflier it was.
Apple reported its second quarter 2013 results today, with revenue of $43.6 billion and income of $10.09 per share. Analysts had expected revenue of $42.5 billion and income of $10 billion. Apple’s guidance had been between $41 and $43 billion.
Apple stock has jumped more than $18 since yesterday, adding $17 billion in stock market capitalization to the company’s value in the last 24 hours.
Apple shares are down $7.26 so far today and down about $260 in the past six months.
Investor Warren Buffet, recently the world’s richest man, seems to think that Apple stock is going to do just fine.
Since December of last year, Google stock is up 20 percent. Since December of last year, Apple stock is down 20 percent.
The big question, however, is this: even if Apple has a stellar quarter, will it be enough to pull AAPL out of its stock market doldrums?
Sterne Agee analyst Shaw Wu has upped his price target for Apple stock for the second time since the iPhone 5 release. He now believes the stock will hit a stratospheric $840 based on two things: iPhone 5 and iPad mini.