Ok well we all know Apple has reported. I have included the details below. I am amending my price target to $135. I think it will get there by delivering a solid Q1, which is historically a slow period. iPhone 6s could be a huge hit too. Times are exciting for this stock. Although, it would be nice to see a broader pullback to draw more cash in, but I don't see that happening. There's no downside catalyst.
Highlights:
The Company posted record quarterly revenue of $74.6 billion and record quarterly net profit of $18 billion, or $3.06 per diluted share. These results compare to revenue of $57.6 billion and net profit of $13.1 billion, or $2.07 per diluted share, in the year-ago quarter. Gross margin was 39.9 percent compared to 37.9 percent in the year-ago quarter. International sales accounted for 65 percent of the quarters revenue.
The results were fueled by all-time record revenue from iPhone® and Mac® sales as well as record performance of the App Store . iPhone unit sales of 74.5 million also set a new record.
Revenue grew 30 percent over last year to $74.6 billion
Apple is providing the following guidance for its fiscal 2015 second quarter:
" revenue between $52 billion and $55 billion
" gross margin between 38.5 percent and 39.5 percent
" operating expenses between $5.4 billion and $5.5 billion
" other income/(expense) of $350 million
" tax rate of 26.3 percent
Apples board of directors has declared a cash dividend of $.47 per share of the Companys common stock. The dividend is payable on February 12, 2015, to shareholders of record as of the close of business on February 9, 2015.
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