IPhone X boosts Apple revenues

When it comes to Apple's iPhone X sales, Wall Street got it wrong

The company, flush with a huge cash pile on strong earnings boosted by the U.S. tax cut plan of 2017, also announced a 16% boost to its quarterly dividend.

Marketwatch has the details on what Apple has planned for the coming quarter.

The amount Apple spent buying its shares in those three months exceeded the stock market value of most companies in the S&P 500 index, including household names like Kroger Co, Best Buy Co Inc and Hershey Co.

For the current quarter, those nine firms are predicting that Apple will sell 4.2 million smartwatches. It has purchased about $200bn of stock since 2012.

Apple said its dividend increase would be reflected in a cash dividend of 73 cents per share payable on May 17. The figure of $728 came in under the $740 expected by analysts and would seem to indicate that the iPhone X did not sell as well as expected.

Apple's servicers could be "hard to grow in the face of the competitive monsters who have more history and deeper relationships with services customers", said Erik Gordon, a professor at the University of Michigan Ross School of Business. Financial analysts had estimated that there would be a "slowdown" for Apple. Wedbush Securities Inc. raised its position in Apple by 3.6% during the second quarter.

Rowney's Penguins downed in game two in Washington
I'm at no point trying to target the head at all. "I don't think anybody really knew", Washington forward Brett Connolly said. As such, the league's situation room ruled in favor of a no-goal and the Capitals went on to emerge victorious.

AAPL has been the subject of several other reports. The report suggests that Apple would be planning to "upgrade to USB-C support" for all of its devices by shipping them with a redesigned 18-watt power adapter and USB-C to Lightning cable. Finally, Macquarie set a $197.00 target price on Apple and gave the stock a "buy" rating in a research report on Wednesday. The stock presently has an average rating of "Buy" and an average price target of $203.58. The iPhone revenues skyrocketed 14% YoY even though sales increased by just 2.9%. The stock was sold at an average price of $166.42, for a total transaction of $11,564,692.22. 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. Company insiders own 0.06% of the company's stock.

Shares of AAPL opened at $176.57 on Thursday. Apple has a 52-week trading range of $142.20 to $183.50. The firm has a market cap of $838,531.38, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 1.26 and a beta of 1.26. The iPhone maker reported $2.73 EPS for the quarter, beating the consensus estimate of $2.69 by $0.04.

Apple has about $145bn in the bank, but plans to return the cash to investors. During the same period previous year, the business posted $2.10 EPS. A 31 per cent increase in services revenue to US$9.2 billion was a bright spot in earnings reported on Tuesday, lifting overall gross margins as well as sales, the company said. This represents a $2.92 annualized dividend and a yield of 1.65%. Apple's dividend payout ratio (DPR) is 27.36%.

Apple announced on Tuesday with its latest quarterly result that an earlier buyback worth some $210 billion will quieten down in the next quarter. It announced $100 billion in stock buybacks.

So many analysts are looking to Apple's booming services business for growth.

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