tech
Apple's Stock Gains as Company Execs Cite iPhone, Mac Demand in Boosting Guidance
On its quarterly earnings call, Apple said revenue growth in the current quarter would be between 14% and 17%, well above analysts' estimates.
TL;DR
- Apple's shares rose over 3% after the company reported better-than-expected quarterly results and issued strong revenue guidance.
- The company forecasts current quarter revenue growth between 14% and 17%, exceeding analysts' projections of 9.5%.
- Demand for the iPhone 17 family and certain Mac models, including the MacBook Neo, was cited as a key driver.
- Despite supply constraints due to a global memory crunch, Apple's services revenue increased by approximately 16%.
- Gross margin reached 49.3% in the latest quarter, with a forecast of 47.5% to 48.5% for the June quarter.
- Morgan Stanley analysts raised their earnings per share projection for the fiscal year and cited Apple's ability to manage margins.