While the rest of the tech space has been sucking wind so far this quarter, Apple just reported its most blowout, and record, quarter in recent history. Their Q1 numbers are simply stunning and as follows:
- Sales of $74.6 billion, Est. $67.5 billion
- EPS of $3.06 billion, Est. $2.60 billion
- Profit margins of 39.9%, exp. 38.6%
- iPhones sold: 74.5 million, Est 64.9 million
- iPhone average selling price: $687, Est. $668
- iPads sold: 21.42MM, Est. 22.1MM
- Macs sold: 5.52MM, Est. 5.5MM
What does Apple say about the coming quarter:
- Revenue between $52 billion and $55 billion, Est. 53.72Bn
- Gross margin between 38.5 percent and 39.5 percent
- Tax rate of 26.3 percent
So where did all this growth come from? The following chart explains it, because whil the Americas remained the largest selling market with $30.6 billion in Q1, this was a growth of "only" 23% Y/Y. China? A whopping 70% growth!
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The rest of the quarter in charts:
Sales:
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Margins:
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Product Breakdown:
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And the biggest whopper of all: cash, which just rose to a stunning $178 billion.
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And the reaction - a kneejerk higher (to six week highs) but a modest fade for now...
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