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Showing posts with label earnings. Show all posts
Showing posts with label earnings. Show all posts
No worms in Apple stock
Apple (AAPL) has taken a bit of a stumble on Wall Street lately. Now, investors need to figure out whether it's a great buying opportunity or if this is the beginning of the end of Apple's fabulous bull run.
Shares of Apple have now fallen 10% from their all-time high of $705.07. The stock dipped slightly Tuesday, making it the fourth consecutive down day for Apple.
Apple was roundly criticized for its new Maps app, with many people preferring the previous map from Google (GOOG) that was bundled into Apple's iOS. Related: Comprehensive coverage of iEverything in Fortune's Apple 2.0 blog
The days of Apple as the plucky David of Silicon Valley doing battle with the monolithic Wintel Goliath are long gone. Remember the kerfuffle over the iPhone 4 antenna? Nobody should be surprised that Apple shares are taking a breather. I followed that up last month by saying that "as Apple's stock climbs higher and higher, it's harder for new products to immediately move the needle."
Apple proved it is fallible. Will the rumored iPad Mini, which may be unveiled this month if the chatter about an imminent invitation for another special Apple event are correct, be the product that restores the sense of magic and wonder usually associated with Apple? Apple will release its next quarterly earnings report on October 25. As a result, Apple's stock is once again looking reasonably priced, trading at 11.8 times fiscal 2013 earnings projections. Apple had been valued at 13.5 earnings estimates for next year at its peak $705 price.
Related: Apple's biggest apologies
The sense of alarm about Apple's stock slide is even more comical when you consider that this isn't even the first time in the past 12 months Apple has "corrected."
There was almost a mini-Apple bear market this spring. After Apple hit a then all-time high of $644 on April 10, the stock then tumbled 19% to $522 by May 18 thanks to concerns about a slowdown in the global economy. (Sound familiar?) And shortly after the iPhone 4s hit stores in mid-October of last year, Apple's stock fell nearly 15% over a seven-week stretch from a then-peak of $420.70 to $363.32.
Sure, Apple will eventually top out. But I doubt that the stock has already peaked.
See More Market Plan in On Fina
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LinkedIn income climbed $ 363.7 M
SAN FRANCISCO (Reuters) - LinkedIn Corp (LNKD) reported revenue of $363.7 million in second quarter, a 59 per hundred jump, after its members numbers proceeded to soar after some quarters of slowing down development.
The San Francisco business, one of the few social newspapers stocks that have fulfilled its hype since going public, now brags 238 million users, a 37 per hundred boost from a year before.
LinkedIn shares, which shut at an all-time high of $213 on Thursday before the newest results, have roughly increase two-fold in the past year.
LinkedIn posted earnings per share of $0.38 on revenue of $363.7 million. Analysts expected 31 cents per share on revenue of $354 million. In the year-ago period, LinkedIn posted earnings per share of 16 cents on revenue of $228 million.
Premium subscriptions generated $73.0 million in the quarter, up 68% from the year-ago period and represented 20% of total revenue, up from 19% a year ago.
U.S. business was 62% of total revenue, while international was 38%.
Total LinkedIn users were 238 million, up 37% from the year-ago period, and the first sequential acceleration of growth since LinkedIn’s 2011 IPO. Monthly unique visitors were 189 million, including LinkedIn’s SlideShare unit. LinkedIn has beaten analysts’ expectations in every quarter as a public company since pricing its IPO at $45 per share in 2011.
(Reporting by Gerry Shih; revising by Bernard Orr)
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Top Earning Estimates on iPhone Sales Apple
Apple, which reported tearnings that topped analysts’ estimates on better-than-expected iPhone sales, says it expects a “busy fall” with new products.
“We are laser-focused and working hard on some amazing new products that we will introduce in the fall and across 2014,” Apple CEO Tim Cook said in a statement. Later, during an hour-long call with financial analysts, Cook added that “we’re working on stuff we’re really proud of,” while CFO Peter Oppenheimer said the company is “on track to have a very busy fall.”
Company watchers and investors, who have hammered the stock in the past 10 months because of the absence of new products, are looking for Apple to release an update to the iPhone, its top moneymaker, in September or October. A smartwatch and interactive TV may also be in the works, as well as an update to the iPad mini tablet.
“Our key catalyst will always be new products and services,” said Cook, who celebrates his second anniversary as CEO next month. “These will be both in existing categories we’re in and in new categories…I think we have lots of growth opportunities. I don’t subscribe to the common view that the high-end of the smartphone market has hit its peak.”
Investors seemed pleased with the results and the company’s commentary, sending the shares up as much as 5 percent in late trading.
Apple said today that sales rose to $35.3 billion from $35 billion in the fiscal third quarter ended in June. Profit was $7.47 a share, down from $9.32 a year ago. That topped the expectations of analysts, who were expecting expecting sales of $35.01 billion and profit of $7.32 a share.
Gross margin, a key measure of profitability, narrowed to 36.9 percent from 42.8 percent, as analysts expected. Apple had forecast gross margin of between 36 percent and 37 percent.
For the fourth quarter, which ends in September, Apple said it expects sales of $34 billion to $37 billion and a gross margin between 36 and 37 percent. Analysts were looking for fourth-quarter revenue of $37.1 billion and a gross margin of 36.9 percent.
“We believe fiscal year 2013 will prove to be a year to forget, but fiscal year 2014 will prove to be a year of new product innovations,” said Brian White, an analyst with Topeka Capital Markets.
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