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Apple have destroyed market expectations in its quarterly earnings report and the stock has rallied 7.8% in the after-market

Chris Weston

Pepperstone

Apple have destroyed market expectations in its quarterly earnings report and the stock has rallied 7.8% in the after-market. Q2 EPS came out at $11.62, a modest 14% above expectations. Gross margins at 39.3% were better, while revenue was also much better. The company have announced a seven for one stock split and also boosted its buyback to $90 billion. One thing the market has picked up on is that Q3 revenue projections (at $36 to 38 billion) are in-line with market expectations, while its cash pile has fallen $8 billion to $151 billion - the first drop here since 2011.


Chris Weston
Chris Weston
Head of Research
Pepperstone

Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...

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