Apple Reports Steady IphoneSales And Declares $100 Billion Buyback

The Apple iPhone X sits on display at the new Apple Michigan Avenue store along the Chicago River in Chicago. Associated Press files

The institutional investor owned 4,829 shares of the iPhone maker's stock after purchasing an additional 800 shares during the quarter.

Other large investors have also recently added to or reduced their stakes in the company. The fund owned 19,629 shares of the iPhone maker's stock after buying an additional 458 shares during the period. Welch Investments LLC raised its position in Apple by 18.7% during the third quarter. DnB Asset Management AS now owns 1,591,868 shares of the iPhone maker's stock valued at $269,392,000 after purchasing an additional 581,318 shares during the last quarter. Nadler Financial Group Inc. now owns 57,894 shares of the iPhone maker's stock worth $9,797,000 after acquiring an additional 305 shares in the last quarter. Institutional investors and hedge funds own 61.18% of the company's stock. Also, SVP Daniel J. Riccio sold 17,375 shares of the firm's stock in a transaction that occurred on Wednesday, April 4th. Despite the lower Average Selling Price (ASP), revenue attributed to the iPhone rose 14% year-over-year. Following the completion of the sale, the insider now owns 64,475 shares of the company's stock, valued at $11,261,203.50.

In related news, insider Luca Maestri sold 39,122 shares of the firm's stock in a transaction that occurred on Friday, April 13th. The stock was sold at an average price of $174.66, for a total value of $6,833,048.52. The disclosure for this sale can be found here.

Taking into account of iPhone's revenue contribution and the iPhone ASP, Apple could achieve a 10 percent year-on-year growth in iPhone shipments in the current quarter with around 45 million units shipped.

Shares of AAPL opened at $176.57 on Thursday. Apple has a 52-week low of $142.20 and a 52-week high of $183.50.

Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, May 1st. The iPhone maker reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.04.

Chandrababu to undertake district tours hitting on Modi
He also alleged that Modi was neglecting Andhra Pradesh as he found a new friend in the "corrupt" YSR Congress Party. On March 16, the ruling TDP reached a deadlock with BJP over this issue and ultimately quit the NDA coalition.

In fact, as CEO Tim Cook noted, "iPhone's second-quarter performance capped a tremendous fiscal first half with US$100 billion in iPhone revenue, an increase of US$12 billion over last year, setting a new first-half record and achieving our highest first-half growth rate in three years".

Apple's planned capital return - the money it's giving to shareholders - will be larger than all but 20 S&P 500 companies.

Shares of Apple Inc rose 3 percent on Wednesday after the company's quarterly report and current-quarter iPhone sales forecast calmed investor nerves about a potential slowdown in sales of its flagship product. Up from 100 million subscribers from a year before, and more than 30 million users from the previous quarter. This repurchase authorization permits the iPhone maker to purchase up to 11.9% of its stock through open market purchases. Analysts believe that Apple's strategy of buybacks will boost the company's share prices.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 17th. The ex-dividend date is Friday, May 11th. This represents a $2.92 annualized dividend and a yield of 1.65%. This is a positive change from Apple's previous quarterly dividend of $0.63. Apple's payout ratio is 27.36%.

Several analysts have issued reports on the stock.

At present, Apple holds only 2.5% share in the Indian smartphone market at the end of December 2017 period and is continuously losing its share to Samsung and OnePlus in the country, as per a CounterPoint report. Canaccord Genuity lifted their price target on Apple from $200.00 to $208.00 and gave the company a "buy" rating in a research report on Wednesday. That brings the overall segment to the size of a Fortune 300 company, Cook said, which is crucial for Apple as it looks to build out its ecosystem and further tie together its devices and services. However, in true Apple style, the company squashed down these estimates and reported nearly envious numbers.

Related News:



Most liked

Showers, storms continue to move through Oklahoma on Thursday
New rainfall amounts between a tenth and quarter of an inch, except higher amounts possible in thunderstorms. The upper trough should go east and clouds will decrease and dew points will drop sharply Thursday night .

Basque separatists ETA announce full dissolution of group
Created in 1959 at the height of Francisco Franco's dictatorship, it is blamed for the deaths of at least 829 people. The disbanding arrived as bittersweet news for Inaki Garcia, whose father died at ETA's hands 38 years ago.

Reconsideration of Justice Joseph's elevation not revenge says Ravi Shankar Prasad
At least three names, along with that of Justice Joseph, are likely to be cleared at the next collegium meeting, the sources said. Prasad noted that a Bharatiya Janata Party government was elected with a three-fourths majority a year ago .

Fitbit to use Google Cloud Healthcare API to advance its wearables
Greater patient engagement and receipt of day-to-day fitness and health data into the EMR offers great potential, Greene says. Another wrinkle to this collaboration is that Google and Fitbit will collaborate on both consumer and enterprise products.

Trump wants African countries to support North American World Cup bid
The U.S. has put together a STRONG bid w/ Canada & Mexico for the 2026 World Cup. All 206 votes from member nations will be made public.

Oil pares gains, market supported by Iran worries
At the same time, OPEC-led production cuts have continued to tighten global markets, despite record-setting US crude output. Analysts said the market is extremely sensitive to any developments on the nuclear deal and sanctions.

Real Madrid vs Bayern Munich: Confirmed lineups, predictions, Robben and Isco missing
He believes Bayern would be preapared to give Madrid a good fight, adding, "they're a great club and we're aware of that". In the quarter-final, Juventus showed a gameplan to battle against Real, and it nearly paid off.

Armenia opposition leader calls supporters out onto streets
But he was still six votes short of the 53 he needs from the 105-seat legislature, where the Republican Party has a majority. Demonstrators had poured onto the streets of Yerevan in protest at the move, accusing him of trying to cling to power.

Oculus Go Standalone Headset Now Available For $199
The Oculus Go is a follow-up to the Oculus Rift , but unlike that device it does not require a connection to a computer. You get all the technology needed to play VR experiences and games in the headset itself, plus a wireless controller.

White House Aide's warned about Ronny Jackson last fall
Jackson's withdrawal as a candidate is a double whammy as Jackson will no longer serve as President Trump's personal physician. Senate Majority Leader Mitch McConnell (R-Ky.) told reporters Tuesday that he is not sure if Jackson will receive a hearing.

Russian Federation investigation wraps up but Dems keep digging
Sessions, including the attorney general's decision to recuse himself from the Russian Federation investigation and whether Mr. Trump has since added former New York Mayor Rudy Giuliani to his legal team to help deal with Mueller's investigation.

2 big supermarket chains plan merger to create UK's biggest retail chain
In a statement on Monday, Sainsbury's said that the agreed terms of the deal meant no change for Asda's pension scheme members. It is thought these 75 stores would be the absolute minimum that the CMA will want disposed of.

Deal reached for rebels to evacuate southern Damascus' Yarmouk Camp
Fighting in the camp broke out in 2013 as some Palestinian factions sided with the Syrian regime and others with the rebels. The government aims to push them to leave the area for northern Syria under an evacuation deal.

Porn Star Stormy Daniels Files New Defamation Suit Against President Donald Trump
Trump used his national and global audience of millions of people to make a false factual statement to denigrate and attack Ms. Aided by her hard-charging attorney, Michael Avenatti, Daniels has aggressively sought to keep her case in the public eye.

Philadelphia police investigates arrest of 2 black men in Starbucks
Protesters outside that location faced police who tried to prevent them from entering, The Philadelphia Inquirer reported . The case of the two men received national attention after a video of their arrest posted on Twitter Thursday went viral .