Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, October 30, 2015

Article Excerpt

APPLE INC., $119.50, Nasdaq symbol AAPL, reported better-than-expected results this week, thanks to strong demand for new models of its iPhone and Mac computers. In its fiscal 2015 fourth quarter, which ended September 26, 2015, the company sold 48.0 million iPhones, up 22.3% from 39.3 million a year earlier, mainly due to strong demand in China. Even so, that missed the consensus forecast of 48.7 million. Overall earnings jumped 31.4% to $11.1 billion from $8.5 billion. Per-share profits gained 38.0%, to $1.96 from $1.42, on fewer shares outstanding, beating the consensus estimate of $1.88. Sales rose 22.3%, to $51.5 billion from $42.1 billion, also exceeding the consensus forecast of $51.1 billion. In addition to strong demand for the iPhone (63% of total sales), sales of Mac computers (13%) gained 3.9%, while sales of software, music and movies (10%) rose 10.4%. The company bundles its new Apple Watch with other products,…