Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, May 01, 2015

Article Excerpt

APPLE INC., $128.95, Nasdaq symbol AAPL, sold 61.2 million iPhones in its latest quarter, up 39.9% from 43.7 million a year earlier. That’s largely due to strong demand in developing countries. For example, Apple sold more iPhones in China (including Hong Kong and Taiwan) than in the U.S. As a result, the company’s earnings jumped 32.7% in its fiscal 2015 second quarter, which ended March 28, 2015, to $13.6 billion from $10.2 billion a year earlier. Per-share profits gained 40.4%, to $2.33 from $1.66, on fewer shares outstanding. That easily beat the consensus estimate of $2.17. Sales rose 27.1%, to $58.0 billion from $45.6 billion, also beating the consensus forecast of $56.1 billion. In addition to strong demand for iPhones (69% of total sales), sales of Mac computers (10%) gained 1.7%, while sales of software, music and movies (9%) rose 9.2%. However, iPad sales (9%) fell 28.7%, and sales of other products, like iPods and Beats headphones (3%), declined 10.2%. The higher earnings prompted…

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