Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
These were very good numbers from Apple with a beat on
the top and bottom lines. Consumers are still extending the upgrade cycle and
holding on to iPhones longer but stickyness in the Apple ecosystem remains
Revenues rose 1% to $53.8bn, ahead of the $53.4bn
expected. EPS was down 7% but at $2.18 ahead of the $2.10 expected.
Mac (+11%) and Wearables (+48%) offset to a degree the
decline in iPhone sales. Outside of the iPhone Apple sales growth stood at a
The 13% growth in Services sales is a disappointment,
and represents another quarter of deceleration. However excluding a couple of
one-off items the growth was more like 18%, according to Tim Cook.
The iPhone is still struggling with sales down 12%. The
next refresh cycle may not offer much uplift though with 5G capability not
expected until the 2020 round.
China was better thanks to a VAT cut but overall sales
in Greater China were still down 22%.
Although Services revenue growth didn’t come through quite as anticipated this was nevertheless a very strong Q3 performance from Apple. Investors will be particularly impressed by robust Q4 guidance that’s ahead of the Street’s expectations. Revenues next quarter are seen between $61bn and $64bn versus expectations of $60.9bn.
Apple stock performance
Shares rallied through the important $211 level in after-hours trading. Heading into the open on Wall Street on Wednesday the stock seemed like it would open around $217. This marks a break past the big swing high from May.
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