Earnings per share and overall revenue both come in better than expected as Apple beats analysts 3Q forecasts amid robust earnings. Revenue comes in at $45.4 billion and EPS at $1.67 with the results generally positive after the company annulled some fears of a slowdown in its flag ship product, the iPhone. It also allayed some fears of a delay in the production of the next model the iPhone 8 that had plagued the stock recently.
Over the same period, Apple’s cash pile has now grown over 13% this year which now stands at an amazing $261 billion – what it actually does with this is another question. If we look at Apple share performance this year, it is nothing short of impressive: up 30% over this year, whilst the S&P is up 11% over the same period.
Given the upbeat earnings report, the stock trades aggressively higher in pre-market trading, of which I would expect investor demand to increase when the stock open for full trading later today.
Jordan Hiscott, Chief Trader
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