As per my post on 1/5,
🍎 on 4/5 reported earnings that beat Wall Street's targets for its fiscal 2nd quarter on strong sales in iPhones & services.
⭐️ Earnings of $1.52 a share on sales of $94.8 billion for the quarter ended April 1. Analysts polled by FactSet had predicted Apple earnings of $1.43 a share on sales of $92.9 billion🐂🐂🐂
⭐️ On a year-over-year basis, Apple earnings were unchanged while sales fell 3%. It was the 2nd consecutive quarter of sales declines for 🍎
⭐️ APPL’s revenue for the quarter ending April 1 was $94.8 billion, a decrease of 3% from the same period a year earlier.
👍 APPL’s services revenue increased 5% year over year to $20.9 billion.
👎 But hardware revenue declined 5% to $73.9 billion.
👍 iPhone revenue increased 2% to $51.3 billion. Smartphones accounted for 54% of the company's total sales in the period
👎 Mac computer sales tumbled 31% to $7.2 billion.
👎 iPad sales declined 13% to $6.7 billion.
👌 Wearables, home & accessories unit fell a fraction to $8.8 billion.
⭐️ 🍎 ended the quarter with cash & saleable investments $57 billion greater than its debts.
🥳🥳🥳 APPL said it would increase its dividend by 4%, to 24 cents per share per quarter. Apple also authorized the repurchase of $90 billion of stock.
🐂🐂🐂 Analysts expect Apple’s operations to produce about $100 billion of free cash flow after capital expenditure over the next 4 quarters, according to Refinitiv🥳 That’s nearly enough to cover its newly-raised dividend for a year, & $90 billion buyback program, without touching the balance sheet. Moreover, the company consistently sells iPhones & services faster than it pays suppliers, which adds to its cash cushion👍
💡 So after APPL's recent earnings report, should we 🐯🐯🐯 buy 🍎❓
🤔💭What Is A 👍 Buy Price For APPL🍎❓
To consider this, let’s look at 1 of the top shareholders of 🍎, our beloved Warren Buffett❣️
⭐️ He acquired 895 Million 🍎 shares worth $150 Billion. It makes up 45.82% of their stock portfolio & is their biggest holding.
⭐️ His 1st 🍎 trade was made in Q1 2016. Since then Buffett bought shares 12 more times & sold shares on 5 occasions. The stake costed the investor $33.5 Billion, netting the investor a gain of 347% so far😱😱😱
🤔💭 In 2022, Buffett added 🍎 shares when 🍎 had an average closing price between $142.91-$168.16. As such, I would use this range as a guide to Buffet’s fair value of 🍎 As I’m an investor who loves a bargain, I’ll wait for the 🇺🇸 recession to hit, 🍎 to drop price, then add at $143😉
Fellow 🐯🐯🐯 What do you think is a fair price for 🍎 before you would enter❓Vote🗳 & Comment below⬇️
Looking in the short-term, I'm still 🐂-ish for AAPL🍎 but I'm 🐻-ish for $Amazon.com(AMZN)$
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