Investing Article

Apple’s Q4 Earnings a Mixed Bag, but Q1 Forecast Better Than Expected

10/25/2016 - 5:01pm By: ETF DAILY NEWS

The Cupertino, CA-based company reported fiscal Q4 earnings of $1.67 per share, narrowly edging out Wall Street’s $1.66 per-share estimate. Revenue fell 9% from last year to $46.85 billion, just shy of analysts’ view of $46.98 billion.
As for the all-important iPhone sales, Apple said that Q3 iPhone shipments totaled 45.5 million, slightly higher than the expected 45.2 million, and down from 48.05 million last year.
iPad shipments in the latest period were 9.3 million, in line with estimates, and down from 9.9 million in the year-ago period. Finally, Mac shipments were 4.9 million, missing estimates of 5.2 million and down from 5.7 million in Q4 of 2015.
Looking ahead, AAPL forecast fiscal Q1 sales to range from $76 to $78 billion, which would easily top Wall Street’s view of $75.33 billion. Gross margins are...

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