Good time to buy Apple stock. Is apple a good stock to buy. Apple on Tuesday reported quarterly earnings that exceeded Wall Street forecasts thanks to strong sales of Mac computers and improvement of its margins, driving a 3 percent rise in its shares after the market close. Is apple stock a good buy. Is it time to buy Apple stock after earnings.
The company challenged the global economic downturn to win U.S. $ 1230 million, or $ 1.35 per share, in its third fiscal quarter ended June 27, compared to 1,070 million, or $ 1.19 per share, in the same period last year.
Earnings per share easily surpassed Wall Street estimates of $ 1.18, according to Reuters Estimates, and even exceeded the most optimistic numbers that were rumored in the market of between 1.30 and $ 1.35.
"Obviously it is a phenomenal success, particularly in the net profits of $ 1.35. Apostábamos to $ 1.17," said Daniel Ernst, analyst with Hudson Square Research. "That shows operational efficiencies. Most of the numbers were better than expected, particularly in the Mac," he added. Sales rose 12 percent interannual to 8340 million dollars, versus the analyst estimate of 8.211 million. Analysts were somewhat concerned about the pressure on margins, given the price cuts in the iPhone and the trend to higher component cost.
But Apple made a gross margin of 36.3 percent, exceeding the 34 percent some analysts expected. That compares with 36.4 percent last quarter and 34.8 percent from the same period last year. The results showed that cause the attraction of Apple products on consumers, despite the troubled global economy, which has beaten the sales of competitors selling cheaper products.
Apple said it sold 2.6 million Macs, 4 percent more than during the same quarter last year as it benefited from an upgrade of its machines in the past quarter and lower prices on laptop computers. The firm sold 5.2 million iPhones in its fiscal third quarter, during which launched its third generation of iPhone 3GS and reduced the price of second-generation model to $ 99. Is this the right time to buy apple. When to by apple stock. Is apple stock worth owning right now?
The company delivered 10.2 million iPods, 7 percent less than a year ago.
The company gave a conservative forecast for the fourth fiscal quarter (July-September) to ensure that it expects earnings of between 1.18 and $ 1.23 per share, with sales of between 8700 million and 8900 million dollars. Shares of Apple, based in Cupertino, California, closed $ 151.6 in the regular session on Tuesday, jumped to $ 157.02 in electronic transactions after the end of the day.
