Despite announcing yet another stellar quarter, Apple (NASDAQ: AAPL) stock lost about 2.5% last week, opening Monday at $132.31 and closing Friday at $128.95. Share prices still hit an all time high of $134.46 on Tuesday during some of the heaviest trading of the year (volume was 118,924,000).
Apple (NASDAQ: AAPL) released its second quarter FY 15 earnings report yesterday, shortly after trading ended. In yet another record breaking quarter, the Cupertino giant again exceeded Wall St. expectations.
Earnings were fueled by record iPhone and Mac sales, alongside record App Store performance, which CEO Tim Cook lauded: "We are thrilled by the continued strength of iPhone, Mac and the App Store, which drove our best March quarter results ever." During the three month period ending March 28, Apple sold 61.17 million iPhones, bringing in $13.57 billion in revenue, up from $10.22 billion in the year-ago quarter. Sales of the handsets were driven by both international sales (which accounted for 69% of the quarter's revenue) and by people switching to the iPhone from other brands. Revenue was boosted by the higher average selling price of the iPhone, which was $659, up more than $60 from a year ago.
Apple (NASDAQ: AAPL) stocks performed well last week, gaining about 3.8% after opening Monday at $125.57 and closing Friday at $130.28. At the time of this writing, share prices are about $132.70, which is approaching Apple's high of $133.60, which was reached during trading on February 24, earlier this year. Chances are that share value will surpass that high mark soon, as Apple is set to release its Q2 FY 15 earnings after the market closes today, 5:00 PM EDT, 2:00 PM PDT. You can listen to streaming audio of the second quarter results conference call here.
Apple (NASDAQ: AAPL) shares lost just under 3% last week, opening Monday at $128.37 and closing Friday at $124.75. The high of $128.57 was reached on Monday. As of this writing, share prices appear to be rallying a bit and are up about 2.2% at $127.46.
Apple Watch preorders continued last week and KGI analyst Ming-Chi Kuo, in a note to investors, wrote that he expects preorders to top 2.3 million. Production has been slowed, he said, due to manufacturing difficulties involving the haptic motor and the AMOLED display. Nevertheless, he believes that Apple Watch will sell 15 to 20 million units in 2015, which agrees with a Reuters poll last week that found about
Apple (NASDAQ: AAPL) stock made its biggest gains last week on Monday, opening at $124.47 and closing at $127.35. Share prices then dropped a bit during the middle of the week before receiving a slight bump on Friday, closing at $127.10. Friday also saw the heaviest trading, perhaps due to the apparent high demand for the Apple Watch.
Apple began taking pre-orders for the Apple Watch at 12:01 AM Pacific time on Friday. The highly anticipated wearable promptly ran out of supply and estimated shipping times were pushed back for all models. All of the Sport and Edition models are now estimated to ship in June, while about half of the