{"id":369236,"date":"2020-01-29T15:37:07","date_gmt":"2020-01-29T13:37:07","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=369236"},"modified":"2020-01-29T15:37:07","modified_gmt":"2020-01-29T13:37:07","slug":"apple-shares-jump-on-record-results","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/mobile\/369236\/apple-shares-jump-on-record-results\/","title":{"rendered":"Apple shares jump on record results"},"content":{"rendered":"<p>Apple has published its financial results for its fiscal 2020 first-quarter ending 28 December, with the company largely exceeding shareholder expectations.<\/p>\n<p>The company posted quarterly revenue of $91.8 billion, an increase of 9% from the year-ago quarter and an all-time record, and quarterly earnings per diluted share of $4.99, up 19%, also an all-time record.<\/p>\n<p>&#8220;We are thrilled to report Apple\u2019s highest quarterly revenue ever, fuelled by strong demand for our iPhone 11 and iPhone 11 Pro models, and all-time records for Services and Wearables,&#8221;said Tim Cook, Apple\u2019s CEO.<\/p>\n<p>&#8220;During the holiday quarter our active installed base of devices grew in each of our geographic segments and has now reached over 1.5 billion. We see this as a powerful testament to the satisfaction, engagement and loyalty of our customers &#8211; and a great driver of our growth across the board.&#8221;<\/p>\n<div class=\"pagebody-copy\">Apple provided the following guidance for its fiscal 2020 second quarter:<\/div>\n<div class=\"pagebody-copy\">\n<ul>\n<li>Revenue between $63.0 billion and $67.0 billion;<\/li>\n<li>Gross margin between 38% and 39%;<\/li>\n<li>Operating expenses between $9.6 billion and $9.7 billion;<\/li>\n<li>Other income\/(expense) of $250 million;<\/li>\n<li>Tax rate of approximately 16.5%.<\/li>\n<\/ul>\n<\/div>\n<p><strong>Stocks rally<\/strong><\/p>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2020\/01\/Rally.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-369240 aligncenter\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2020\/01\/Rally.jpg\" alt=\"\" width=\"814\" height=\"457\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2020\/01\/Rally.jpg 814w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2020\/01\/Rally-300x168.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2020\/01\/Rally-768x431.jpg 768w\" sizes=\"auto, (max-width: 814px) 100vw, 814px\" \/><\/a><\/p>\n<p>The group&#8217;s first-quarter results spurred optimism among analysts that demand for the tech giant\u2019s iPhones will endure, especially as the company is said to be preparing to\u00a0launch\u00a0a new low-cost model and a 5G-enabled device later this year.<\/p>\n<p>Analysts were particularly positive on growth in China, as well as the outlook for the second quarter, even as the performance of the services division disappointed.<\/p>\n<p>Analysts at Cowen also cautioned of the potential impact of the coronavirus outbreak on-demand in the all-important Asian region.<\/p>\n<p>The shares rose 2.2% in the U.S. pre-market and are poised to open at a record high. Apple stock has gained this year as analysts have become increasingly positive on the potential boost from 5G iPhone upgrades.<\/p>\n<p><em>With further reporting from Bloomberg.<\/em><\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/hardware\/368446\/apple-patents-curved-glass-desktop\/\" target=\"_blank\" rel=\"noopener noreferrer\">Apple patents curved glass desktop<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Apple has published its financial results for its fiscal 2020 first-quarter ending 28 December, with the company largely exceeding shareholder expectations.<\/p>\n","protected":false},"author":10,"featured_media":7979,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[51,26],"class_list":["post-369236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mobile","tag-apple","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/369236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=369236"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/369236\/revisions"}],"predecessor-version":[{"id":369248,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/369236\/revisions\/369248"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/7979"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=369236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=369236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=369236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}