Apple Shares Surge Post Reporting Quarter Beat- Heading Toward $1T Valuation?
Apple (AAPL) announced financial results for its fiscal 2017 Q4 ended September 30, 2017. The Company posted quarterly revenue of $52.6B, an increase of 12% from the year-ago quarter, and quarterly earnings per diluted share of $2.07, up 24%. International sales accounted for 62% of the quarter’s revenue.
Apple also provided the following guidance for its fiscal 2018 first quarter:
- revenue between $84 billion and $87 billion
- gross margin between 38 percent and 38.5 percent operating expenses between $7.65 billion and $7.75 billion
- other income/(expense) of $600 million tax rate of 25.5 percent
Tim Cook, Apple’s CEO stated, “We’re happy to report a very strong finish to a great fiscal 2017, with record fourth quarter revenue, year-over-year growth for all our product categories, and our best quarter ever for Services. With fantastic new products including iPhone 8 and iPhone 8 Plus, Apple Watch Series 3, and Apple TV 4K joining our product lineup, we’re looking forward to a great holiday season, and with the launch of iPhone X getting underway right now, we couldn’t be more excited as we begin to deliver our vision for the future with this stunning device.”
Apple’s board of directors has declared a cash dividend of $0.63 per share of the Company’s common stock. The dividend is payable on November 16, 2017 to shareholders of record as of the close of business on November 13, 2017.
AAPL shares closed up today $168.11 up +1.22% with a market cap of $868.33B. It would seem that the company may be on track to hit $1T in valuation if they are able to continue their current pace or manage to achieve even greater growth.
To learn more about Apple (AAPL) and to track its progress please visit the Vista Partners Company Dedicated AAPL Coverage Page.