Apple broke many records with its latest quarter reporting $74.6 billion in revenue and $18 billion in profit with 74.4 million iPhones sold, numbers which greatly surpassed both Apple’s guidance and the even higher consensus analysts predicted, and Wall Street is taking notice.
Following a dismal day for the market yesterday which saw Apple down a few points ahead of its earnings report—it was soon back on the rise in after hours trading—both Apple and the Dow are climbing this morning largely due to those record numbers yesterday. Hovering around 7.5% higher since opening this morning and occasionally crossing 8%, Apple is positioned to cross its previous record high shortly.
In terms of Apple’s market cap, the company added nearly $50 billion overnight after reporting its record quarter for revenue, profit, and hardware sales climbing from $640.09 billion to $689.12 billion.
With Apple’s stock price on the rise today, the company is poised to cross its previous record set last November when it crossed $700 billion in market capitalization with stock as high as $119.75 during trading. Apple’s previous record high close measured at $119.00 even while stock today is hovering just under $118.
[tweet https://twitter.com/kristenscholer/status/560477011576389632]
Aside from breaking its own previous records for earnings during a quarter, Apple’s FY2015 Q1 set a new world record for quarterly profit of any company. We’ll keep an eye on this space as Apple climbs toward a new all-time high bringing the market up with it.
FTC: We use income earning auto affiliate links. More.
I called it … 8% :)
Apple is doomed
LOL
Not doomed today but they are now in MSFT and Sony territory. Then played the larger form factor card now let the games really begin. Watch for 20% decrease in value by the end of this fiscal year. iCal this message.
@Dylan Kiel, 20% decrease? LOL based on what? You’re such of troll. Apple pipeline and growth potential is nowhere close to the plateau. Look at the number of iPhone 6/6+ sale, 85% of them were android switchers. Yup, imagine the next upgrade cycle from current iPhone user base. Apple will continue to have blowout sale for the rest of the year.
Great news…while it lasts. Apple is a great company and this was an extremely fruitful quarter – but now that the bar has been raised, the moment they fail to meet or exceed the expectations from Wall Street their stock is going to take a hit.
How often over the past few years have I heard this dooms day scenario that never happens. The bar’s been raised, significantly, so I’m going with the positive notion that this is no fluke and the bar will continue to rise!
I think so too. Despite what the stock market says, if they keep making awesome products I’ll keep buying them.
Agree. Next quarter will be all about Apple Watch and a quarter after that will be about iPad Pro, iPhone 6S and then this cycle repeats. This’s not counting the current iPhone users upgrade cycle. According to Tim Cook, 85% of iPhone 6/6+ buyers were Android switchers. Damn.
If Apple Watch turns out to be a hit Apple will be a $1 Trillion dollar company by the end of the year. I believe I read they only need a 58% increase in value to achieve that goal (prior to todays big gains)
It’s achievable. I believe Apple Watch will be a hit and expect it to back orders moment after released.