Virtual Portfolio : Apple earnings

Yesterday after session Apple reported earnings of $1.42 compared to estimates of $1.38.
Revenue of $40 billion, Iphone and Ipad sales all beat estimates but those had been lowered in recent weeks .

Sales in China appeared down 33 % in a very tough environnment.

Services revenue continued to increase at $6 Billion up 19%.

For comparison, in Q3 2015 Apple had earnings of $1.85 and revenue of $49.61 billion.

Guidance for Q4 2016 sits in the $45,5 to $47,5 billion.

Tim cook mentionned several long term opportunities as Carplay, « augmented reality », artificial intelligence , Apple Tv upgrades, …

which might explain the stock was up around 5% to nearly 102 USD after session.

Past growth for Apple seems to be over but company still has a bright future and stock looks fairly valued .

Technically there are lots of hurdles for the stock on the upside with June and July tops at USD 102 -103 , 200 days MA at USD103 and the 1 year declining trend line that lies at around USD 104. Strong supports in the USD 89 – 90 should prevent stock to trade below these levels in the near future.

We keep Apple in portfolio.

Apple chart

 

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