Apple second quarter report brings optimism among investors

May 2, 2019 | Investopaper

Apple has published the second quarter report of the fiscal year 2019. The revenue for the quarter stands at $58 billion which is a 5 percent decline if compared to the corresponding quarter in 2018. EPS (diluted) of the company stands at $2.46.

The company has been hit by the decline in the sales of the iPhone in recent years which was further worsened by the trade war with China which is the biggest market for the iPhone and Apple products.

This year, the company has sold iPhone worth $31 billion which has generated 53.5 percent of the total revenue for the tech company till March. In December, iPhone sales accounted for 61.7 percent of the total revenue of the company.

However, Investors are optimistic about Apple comeback. This is because the company has two quickly growing product lines i.e. Wearables and Online services. Similarly, the declining share of iPhone revenue has made the company less dependent on iPhone sales to generate revenue. It is now focusing on selling other hardware and software products to its huge customer base. Services revenue for the quarter was reported to be $11.5 Billion which is an all-time high for the company.

This Wednesday, the shares price of Apple rose by 4.91 percent to close at $210.52.


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