- Revenue: Apple reported a revenue of $85.78 billion, up 4.9% year-over-year, beating the estimate of $84.46 billion.
- Products Revenue: Reached $61.56 billion, an increase of 1.6% year-over-year, exceeding the estimate of $60.63 billion.
- iPhone Revenue: Slight decline to $39.30 billion, down 0.9% year-over-year, still above the estimate of $38.95 billion.
- Mac Revenue: Increased by 2.5% year-over-year to $7.01 billion, beating the estimate of $6.98 billion.
- iPad Revenue: Saw a significant rise to $7.16 billion, up 24% year-over-year, exceeding the estimate of $6.63 billion.
- Wearables, Home, and Accessories: Decreased by 2.3% year-over-year to $8.10 billion, still above the estimate of $7.79 billion.
- Service Revenue: Strong growth to $24.21 billion, up 14% year-over-year, surpassing the estimate of $23.96 billion.
- Greater China Revenue: Declined by 6.5% year-over-year to $14.73 billion, missing the estimate of $15.26 billion.
- Earnings Per Share (EPS): Reported at $1.40, higher than both the previous year’s $1.26 and the estimate of $1.35.
- Total Operating Expenses: Rose by 6.8% year-over-year to $14.33 billion, slightly below the estimate of $14.39 billion.
- Gross Margin: Reached $39.68 billion, up 9% year-over-year, ahead of the estimate of $39.06 billion.
- Cash and Cash Equivalents: Reported at $25.57 billion, below the estimate of $28.98 billion.
- Cost of Sales: Increased by 1.6% year-over-year to $46.10 billion, slightly above the estimate of $45.43 billion.
- Total Current Assets: Increased to $125.44 billion, exceeding the estimate of $124.01 billion.
- Total Current Liabilities: Reported at $131.62 billion, above the estimate of $121.5 billion.
Apple on Smartkarma
On Smartkarma, a platform where top independent analysts publish their research, Apple has garnered diverse coverage. Alex Ng delves into the potential of the “Magnificent Seven” stocks, including Apple, which outperformed the S&P500 in 2023 by 111.6%. Ng ponders if these stocks can break new highs again based on factors like Fed rate cuts and the upcoming presidential election.
Uttkarsh Kohli focuses on Apple’s pursuit of perfection in delivering user experience with the introduction of Apple Intelligence, which led to an over 8% surge in the stock price. The emphasis on privacy and advanced technology in Apple’s offerings, such as Siri with enhanced language comprehension and secure data handling, showcases the company’s commitment to innovation and user privacy.
A look at Apple Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 2 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Analysts indicate a positive long-term outlook for Apple Inc., a leading technology company known for its iPhones, Macbooks, iPads, wearables, and more. With a strong momentum score of 5, Apple is showing robust growth potential and market performance. The company’s growth score of 4 further solidifies its position in the market, indicating promising future expansion opportunities. Additionally, Apple demonstrates resilience with a score of 3, suggesting that it can weather market uncertainties effectively. Although its value and dividend scores are moderate at 2 each, the overall outlook for Apple appears optimistic based on these smart scores.
Apple Inc. caters to a diverse customer base spanning consumer, small & mid-sized business, education, enterprise, and government markets globally. Through its offerings of smartphones, personal computers, tablets, and various services like digital content and cloud solutions, Apple has established itself as a key player in the technology industry. The company’s ability to innovate, coupled with its strong momentum and growth scores, positions it favorably for sustained success in the long term, despite moderate value and dividend ratings.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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