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Apple beat estimates for fiscal Q4 earnings

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Miguel A. Rodriguez
Miguel A. Rodriguez
30 October 2020
In Q4, Apple reported better-than-expected figures

Analysts were looking for an EPS of $0.71, but the actual figures topped the consensus, coming in at $0.73. The revenue came in at $64.70 billion, ahead of the $63.98 billion estimated.

But the revenue generated by iPhone fell from $33.4 billion to $26.4 billion. The significant drop from last year’s figures is believed to have been caused by consumers having waited to buy the iPhone 12. Apple expects the revenue generated by iPhone to pick up in the next quarter. The revenue from this device makes up nearly half of the overall figures.

The services sector brought revenue that topped both the estimates and the last year’s figures, coming in at $14.55 billion.

For the future, Apple didn’t provide any outlook, but investors expect in November the first Mac computers made with its processors instead of Intel’s.

Despite the promising numbers, following the report, Apple stock price closed 3.5% lower. Year-to-date, the company’s stock price gained 57%.

Stay updated with the latest earnings reports here!

Sources: theverge.com, investing.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.