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Apple (AAPL): FQ1 EPS of $13.81 beats by $0.37. Revenue of $54.51B (+18% Y/Y) misses by $220M....
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Wednesday, January 23, 4:33 PM ETApple (AAPL): FQ1 EPS of $13.81 beats by $0.37. Revenue of $54.51B (+18% Y/Y) misses by $220M. 47.8M iPhones, 22.9M iPads, 4.1M Macs, 12.7M iPods. Expects FQ2 revenue of $41B-$43B, below $45.6B consensus. Shares -4.3% AH. (PR)
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On a comparable basis, earnings for this quarter would be 7.6% more:
$14.86 per share on $58.65B of revenue.
Looks like rock solid earnings to me...
I'd take any of apple's problems any day. 1 bln of profit per week. Selling an ios device every 10 seconds for the whole quarter.
And they still managed 50+bln on revenue.
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\ analyst
^^^^^^^
I don't buy the pie in the sky "growth" factors over profit that is being pushed by many investors. Apple's slowing growth should be a concern to long term investors in a couple of years.... if the trend continues, however, currently the profits generated by Apple are simply put AMAZING!
137 Billion in cash!!!
Buy back shares for 100 Billion NOW!
They will still have 47-50 billion left at the end of the next quarter...
The future is unknown!
LOL! ROFL! Real loud!
We call this leadership? The Fed sells the VIX 24/7 to try to pretend that stocks can't go down. The Fed needs to be sued for generating a corrupt Las Vegas out of Wall Street: "the house cannot lose".
Apple is a great company; the global economy is dead. Apple was OVERPRICED. Now Apple is trying to settle. Does the world NEED Apple products; or does the world just LIKE them? Is Steve Job's replacement a magician, or just a technician -- if the latter, then the magic might be gone. (He doesn't strike me as being a magician. FUNCTIONARY ENGINEER more likely.)
wow
That is a big statement.
Have you ever seen something dead? A person, a dog, a computer, a company?
Dead is a irreversible non-functional state.
Why make extreme statements such as this?
How does this contribute meaningfully to discourse, analysis and discussion?
Worldwide employment continues to grow as does productivity. Worldwide R&D is the highest it has ever been. Oil production is at an all time high. Computer use, cell phone use, air travel, shipping... by any measure are at all time highs. Do you think peoples' desire for a better life, an improved standard of living is going to slow down?
The IMF's World Economic Outlook anticipates global growth at 3.5 percent in 2013. There are hot spots and cold spots to be sure. But overall, continued economic expansion, improved worker productivity and aggregate improvements in standard of living are very likely to occur.
Please support your claim that "the global economy is dead".
Yet, Amazon posts worse news, yet skyrockets.
record revenues
record sales
record iPhone sales
record iPad sales
another 23B on the cash pile.
ya, you go sell away because i'll be the first one sellin to ya.
(according to a quick scan, now 5 times in the last 6 months)
You mean 'buying from you, don't you'?
Apple has a vacuum in leadership. Apple is suffering because of the ghost of Steve Jobs. Hard to replace a 'magician' with a technician, an engineer. Microsoft is the same. Technicians have no magic.
FWIW, I think AAPL will be up by the end of the month from where it lands tomorrow. There's one more thing, on the tip of my tongue...oh yea, AAPL SPLIT YOUR STOCK ALREADY.
I'm doubling down on all my positions - WallStreet and their short term craziness.
Split would be nice - allow more folks to enter into the buy of the decade.
do the math.
oh, shoot - record revenue, again. dear, would you put that 23B on the pile over there witht he rest love ...
LONG AAPL
Always pimping their own stocks when they're low, and trying to get people to sell when they're high so they can go back in and buy some more
these are not bad earnings - should have little impact
as well every analyst in th world pegs AAPL at $700 +
hang in there
Out of this trade....onto the next...keeping my 401k stuff in apple for long term trade...guidance is cloudly, not even going to give a eps for next quarter....its possible market may price in no growth for this stock for the year....
y/y growth of 18% or so is not bad. Guidance is probably a bit better than expected. Analysts probably raise their March quarter expectations and full year expectations a bit. Valuation is so low that stock probably rises but wtf knows. This certainly was not the blowout that some folks expected/hoped for.
One of funny things is that all those strangles are probably worthless -- yeah stock is way down now, but if you dig into the numbers you can easily see a no big deal one way or another with most likely result being a wash.
Silly notion. People who bought NFLX <$100 will pooh pooh your SPY ETF :P
And still making it expensive to hedge at a decent duration. Term structure.
analysts using DCF with a 700 price target had gross margin at 41 in 2013 to 31 in 2019 as a slope.many will cut their target to 600 as a result.
the stock is at 490....wait for 425 to be a buyer.....
I guess that shows Apple! How dare you "beat" estimates so often. The analysts will continue to set the bar too high to be reached.
This story is becoming a non-story, in my opinion.
'gee, if in their strongest quarter with full length of new products Iphone5 and Ipad mini and yet they getting lower margins ?!!! What's next? This should have been their BANNER quarter!!'
AAPL, posts a $13.81 eps profit, misses revenue..........drops 5%, and it pays a nice dividend.
Am I missing some logic here? Do traders think a fair price for apple is when the P/E ratio is at 1?
Split stock and increase the div we`re back in business.
Earnings for this fiscal year projected $51/share. P.E. down to about 6.5 Amazing!
Fundamentals have no influence whatsoever. Ridiculous.
And they sold 4.1M Macs vs. 4.9M last quarter. The numbers for iPad sales and Mac sales should have been better given that it was Xmas.
Think before posting.
For a company that made 50+ billion a quarter, it would go private or someone would buy the company.
Screw the analysts. Buy and hold. AAPL will rule the world.
Roll the Dice, eh? ROFL! Real loud
It sounds like paper money; but it is de facto real money so to speak. An appraiser uses a formula based on the equity you hold on this stock to calculate the amount of loans/mortgage you may qualify.
I bought some at an avg price of $570; selling off now is out of the question; I'm confident we will see $600 again sometime this year, might be weeks, might be months... the tough decision is whether to gamble and buy more in the low-mid 400s though.... If they announce something promising at macworld etc it could pay off quick
Buy and hold AAPL. It's the only way the little guy can beat the market manipulators. AH numbers are screaming BUY!
At $460 a share, Apple is paying a nice 2.3% dividend rate. My bank account pays 0.10%.
If I ever get back out of some these huge losses in AAPL I am selling out of it for good. I don't want to own a stock from a company that has so little regard for the interests of their share holders.
A company hitting estimates dead on, or missing, is a loss. All things being equal, this may continue the already existing trend to culminate at a price / book settling.
Some mutual funds will be forced to sell AAPL because they are no longer showing YoY growth metrics. This will make AAPL less of a growth candidate.
Historically its P/B is at pretty decent low, which might now make it a value candidate. iPhone accounts for over 50% of their revenue. If you believe AAPL can continue to see growth in sales of the iPhone, it is a definite value purchase.
If Cramer ever gave out good advice (to the mice), then he'd be yelling BUY! BUY! BUY!
The mutual funds aren't looking at the next 2-5 years, they are looking at the next 10 years. What they see is a company that hasn't released a single new good innovation since Jobs passed (the closest was the iPad mini, but other companies did the smaller tablet first), a company where 50% of their revenue comes from a single product that is starting to look dated (iPhone) and in addition is losing market share. They are also firing senior management that were critical in Apple's previous success.
Jobs left a manager in charge not an innovator. Management is a very important consideration when dumping billions into anything.
Those who have balls will profit mightily from this ridiculous down turn.
Sorry to burst your bubble but it's déjà vu for some of us.
Very tragic
Go get a passport, buy a ticket to China and have a look around at what is going on out there. Yes, Apple will sell in China but it ain't IMPO going to be anything as dominant as it once was in the US.
Some other guy posted on here that he has not seen people buying Galaxy 3s in the US. I say to him - come to Europe, where the smartphone market is bigger than the US, and have a look at what people are using as their smartphones.
No offence intended - but so many of you Apple diehard fans have such a narrow US-centric view of the World that it is, frankly, hilarious.
A couple years ago, my cousins were clamoring for Blackberries, and I gave them a funny look since the iPhone was already the next big thing in America.
Don't underestimate the potential of conspicuous consumption in the highly income-stratified "developing" world. See also: http://bit.ly/XASMy1
Didn't you see the results tonight - margin profit is down.
6 months ago out of 15 people in my department, 10 had iPhone4s. Only 1(!) upgraded to 5th, 6 bought Nokia, and others are still happy with 4s...
What a joke. They have record billions of dollars more on hand now. Surely they will increase the dividend or do a bigger share buy-back. Nope. Dividend.. lowered to $2.50 per share from $2.65.
Thanks a lot selfish jerks.
I am so sick of this lack of stock-holder support by Apple.
It's nice to make the nicest toys around but they also have an obligation to share-holders and they are totally ignoring that responsibility IMHO.
Maybe there's something to the law of large numbers but not in the technical sense of reverting to a mean. Once a company achieves a certain value it has to continually hit home runs just to tread water. While its performance has been outstanding, the bar has been set so high that it's impossible to reach it w/ any regularity.
["The Stock Market
Jan 10th 2013 8:49PM
Haven’t blogged in a while. So I decided to look back and pull out one of my first blog posts, from 2004. An oldie, but goodie !....."]
That explains the type of jerking around even decent stocks get in the stock market when stocks miss The Number estimated by analysts--as if they knew anything!
On the other hand the Apple Chart rolled over into Stage 4 (See Stan Weinstein's book) after it reached its top around 705 which reminded me of the top reached by Qualcom in 2000 around 200+ and then in a stage 4 swoon went down to 40+. Charts are good for some decisions.
At this point, I'm riding it out and wait for the momentum pendulum to swing the other way. Won't buy more until the stock price chart says to do so.
And shares drop 4%??? makes no sense to me.
-Bill L.
Maybe iPhone 28 will be the REAL money-maker.
For me as a non-holder, I must admit it's kinda fun to watch. Reminds me a lot of the crash in the price of gold.
I thought $390 strike was a safe play....I will lower to $330.
-- Samsung running circles around Apple in smartphone development and introduction cycles.
-- Google now introducing Chromebook (#1 selling notebook on Amazon) at 1/4 cost of MacAir.
-- Jobs' leadership and buzz gone, forever
-- Apple internal bickering, firings, reorganization
-- Lawsuits instead of discernible product strategy, development and timely introduction
Apple is showing all the classic signs of "horse designed by a committee" results that one associates with typical group-think corporate behavior.
Commodore (C=64, Amiga, etc.) tried this approach. It was THE "platform" at the time for video editing. They went the proprietary route, and walled their garden in so much that they went out of business.
Some group of investors has probably been driving down this thing down for 3 months and continued in the after hours. If I'd seen the numbers and wasn't looking at what the share price was doing, I'd assume that AAPL would stay kind of flat.
This pullback is being orchestrated and if you don't think so, buyer beware.
uncertainty on where apple margin will be in 2 years
uncertainty of where the smartphone business will be in 2 years in terms of price range(200 usd or 500 usd?)
uncertainty of Apple being able to cope with big selling numbers
uncertainty about Apple innovation capacity
thats a lot for a company that has stocks in any portfolio in the world....
so yes i agree this is not new and yesterday earnings have not given big answers in that regard and yes some punters were ready to push for a big dive (and guess what? they succeeded even if stock seems to recover a little(474 now) from the low)
but to think that Apple has no issue at all behind their incredible succes is ,i think, a mistake.
Aplle will need to communicate more on their strategy as the buzz who used to be positive is now negative.
example: when there was shortage issue in the past it was seen as positive and it is now seen as a sign of weakness.
tim has to change communication if he wants to please shareholders and diminish volatility......
or maybe he doesnt care and maybe i dont blame him.....
Does this mean that the company should now be selling for 6.5x forward earnings ex-cash? No. Of course not. Be patient. Buy in and make money. But it is easy to see why the stock tanked.
Always keep some dry powder, and re-allocate. Earnings seasons can be treacherous as we have been reminded, even at par with expectations.
you know what?
forget it
... waste of time to discuss with an idiot like you!!!!!
Don't know for sure, but margin calls are generally related to increased volatility (up or down).
Fundamentally, APPL is a buy, but not now!
I'm so pissed off at Apple management for not supporting their shareholders that I used my proxy votes to vote against Tim Cook and Al Gore. I hope that others will do the same.
One comment suggests flash dump used to drive weekly options prices. Another possibility is that options were exercised? Would like to get a knowledgable opinion.