$Apple(AAPL.US) +4% AH after forecasting much higher than expected 3Q revs and delivering solid 2Q results led by iPhone 17 and strong Greater China sales.
3Q guide:- Revs +14-17% YoY vs +9.1% est - Gross margin 47.5%-48.5% vs 47.6% est2Q results:- Revs $111.2B +17% y/y vs $109.7B est- EPS $2.01 +22% y/y vs $1.96 est- Gross margin 49.3% vs 48.5% est- IPhone rev $57.0B +22% y/y vs $56.9B est- Mac rev $8.4B +6% y/y vs $8.1B est- IPad rev $6.9B +8% y/y vs $6.7B est - Wearables, home and accessories $7.9B +5% y/y vs $7.7B est- Services rev $30.98B +16% y/y vs $30.4B est- Greater China $20.50B +28% y/y vs $18.9B est - Americas rev. $45.1B +12% y/y vs $45.8B est- Europe rev $28.1B +15% y/y vs $29.1B est COMMENTARY AND CONTEXT- IPhone hit a March quarter revenue record, fueled by “extraordinary demand” for the iPhone 17 lineup, Cook said- AAPL has benefited from series of new products launched in March including $599 MacBook Neo, iPhone 17e, updated iPad Air models and new MacBook Pro.- AAPL signaled that it’s coping with shortages of memory chips by increasing prices on some laptops- AAPL said it would buy back as much as $100B of its stock (2.5% mkt cap) without putting a time frame on it.The copyright of this article belongs to the original author/organization.
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