Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, February 3, 2017

Article Excerpt

APPLE INC., $129.05, Nasdaq symbol AAPL, gets about 70% of its revenue from iPhone sales. The remaining 30% comes from sales of its Mac computers, iPad tablets, iPod music players and Apple watches as well as the software, movies and music sold through its online stores. The company sold 78.3 million iPhones in its fiscal 2017 first quarter, ended December 31, 2016. That beat the consensus forecast of 77.4 million. The latest sales are also up 4.7% from 74.8 million a year earlier. The increase is due to strong demand for Apple’s new iPhone 7 model, during the busy holiday shopping season. As well, battery problems with phones from Samsung, its chief rival, helped spur iPhone demand. New models also boosted sales of Mac computers by 1.2%. However, iPad sales fell 18.9%. Apple’s overall revenue in the quarter gained 3.3%, to $78.4 billion from $75.9 billion a year earlier. That beat the consensus forecast of $77.4 billion. Earnings fell 2.6%, to $17.9 billion from $18.4…