Apple sets new first-half record in India: Tim Cook


Apple posted revenue for its March quarter of $61.1 billion, up from $52.9 billion previous year.

Apple (NASDAQ:AAPL) has been given a $185.00 target price by stock analysts at Atlantic Securities in a research note issued to investors on Wednesday.

During the period of January to March, Apple said that it sold 52.2 million iPhone.

The company, flush with a huge cash pile on strong earnings enhanced by the USA tax cut plan of 2017, announced $100 billion in new share buybacks plus a 16 percent boost to its quarterly dividend.

No matter what happens with the iPhone, in terms of growth, the fact that Apple has a $300 billion-plus stock buying bazooka helps to soften any blow in the growth of the iPhone for investors. "Across all our services, paid subscriptions surpassed 270 million, up over 100 million from a year ago and up $30 million in the last 90 days alone, contributing to the overall increase in services revenue". Worldwide sales accounted for 65 percent of the quarter's revenue.

Apple provided a relatively solid outlook for the current fiscal third quarter, with revenue in the range of US$51.5 billion to US$53.5 billion. The firm increased 2018 expectations to estimate to $12.55 EPS based on higher share repurchase activity and on increased revenue expectations for service revenues and from the Apple Watch. The iPhone maker reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.04.

Morgan Stanley reiterates Overweight rating and $200 price target, an 18% upside to yesterday's close.

"China, I continue to believe is a phenomenal country with lots of opportunity from a market point of view, but also lots of opportunity from an app developer's point of view", Cook said during the earnings call. He called the phone a "Super Bowl victor", and said that Apple couldn't be prouder of the device. In the same month, the company said they are expecting to contribute to $350 billion to the US economy during the next five years. But Apple CEO Tim Cook soothed analysts and investors alike by commenting yesterday during Apple's quarterly conference call, that since the launch of the iPhone X in November it has been the top selling iPhone each week. The company also committed to announced it would use an extra $100 billion on share buyout program.

"We sold 4.1 million Macs, generating year-over-year growth in many emerging markets, including Latin America, West Asia and Africa, central and eastern Europe and India", Maestri said.

Average price of iPhones sold in India has consistently been up in the last one year.

Turns out the iPhone X isn't too pricey after all.

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

Several analysts are pointing out towards the revenue from services that has led to Apple recording its best March quarter ever.

"My view is that China and the US have an unavoidable mutuality, where the USA only wins if China wins, and China only wins when the USA wins - and the whole world only wins when they are both winning".

Cook admits that while Apple's market share in India is very low, it had the best results there in the second quarter.