Apple's Earnings Reports Exceed All Expectations!

  Thanks to strong sales of tech giant Apple (AAPL), iPhones, wearables and its services, its earnings report announced late Wednesday easily exceeded Wall Street expectations. However, Apple shares followed a volatile course in extended trading after the report was released.

The California-based company reported sales of $ 111.44 billion or earnings per share of $ 1.68 billion in the fourth fiscal quarter ending December 26.

Analysts had predicted that Apple would report earnings per share of $ 1.41 from sales of $ 103.28 billion. On a year-on-year basis, Apple's earnings increased 34 percent, while sales increased 21 percent. Apple did not provide a roadmap on its upcoming current quarter sales and earnings. The company had not drawn a financial roadmap as of early 2020 due to the uncertainty created by the Covid-19 outbreak. Analysts estimate Apple to report $ 74.54 billion in sales or 91 cents share gains for the current quarter. During the same period a year ago, Apple's earnings were $ 58.31 billion in sales or 64 cents per share.

Apple Stock Fluctuates in Late Trading

In the stock market's after-hours trading on Wednesday, Apple shares fluctuated between modest gains and losses. In recent days, Apple shares fell around 140.70 and 1 percent. During the normal session, shares fell 0.8 percent to 142.06.

IPhone 12 Carried the Last Quarter Sales

"Our business performance for the last quarter has been fueled by double digit growth in each product category. Our actively loaded base devices are at an all-time high," said Luca Maestri, Finance Director, in a news release. In a conference call with analysts, Apple announced that it had finished the last quarter with 1.65 billion active-loaded base devices in use worldwide. In the last quarter of 2020, with the launch of the iPhone 12 series phones, sales rose 17 percent to $ 65.6 billion. Apple's iPhone business accounted for 59 percent of all the company's sales during this period. Mac computer sales grew 21 percent to $ 8.7 billion in the fiscal quarter. Apple's iPad tablet sales increased by 41 percent to $ 8.4 billion. Situations carried out from home due to the coronavirus pandemic increased sales in both product categories. Apple's Wearable Devices, Home and Accessories division increased revenue by 30 percent in the last quarter of 2020, reaching a figure of about $ 13 billion. New models of Apple Watch (smart watches) and AirPods (wireless headphones) were products that accelerated growth. The company's service business (App Store, iCloud, Apple Pay, Apple Music, Apple TV + and more) increased 24 percent to $ 15.8 billion.   Apple's Earnings Reports Exceed All Expectations! Source: https://www.investors.com/

Tesla’s Earnings Reports Are Positive, But Below Expectations