Apple Working On A dual-SIM iPhone

03 May, 2018, 15:54 | Author: Shannon Newton
  • Turns out the iPhone X sold a lot more units than analysts expected

Nadler Financial Group Inc. now owns 57,894 shares of the iPhone maker's stock valued at $9,797,000 after purchasing an additional 305 shares in the last quarter. Frontier Wealth Management LLC boosted its position in Apple by 0.8% during the second quarter. Baystate Wealth Management LLC's holdings in Apple were worth $3,474,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. The iPhone-maker posted better-than-expected profit and revenue that pushed its stock upward by 4% in the after-hours trading session. Welch Investments LLC grew its position in shares of Apple by 18.7% in the third quarter. Crossvault Capital Management LLC grew its position in shares of Apple by 0.5% in the third quarter. Risk Paradigm Group LLC grew its holdings in shares of Apple by 7.1% during the second quarter. Atlantic Trust Group LLC now owns 3,641,534 shares of the iPhone maker's stock valued at $561,233,000 after purchasing an additional 968,385 shares during the last quarter.

Angelo Zino, analyst at CFRA Research said the gain was evidence of "significant increase in paid subscriptions within (Apple's) ecosystem". Institutional investors own 61.18% of the company's stock.

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Shares of AAPL opened at $176.57 on Thursday. The firm has a market cap of $838,531.38, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 1.26 and a beta of 1.26. Apple's programme dwarfs others even as stock repurchase efforts kick into high gear. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.24 and a quick ratio of 1.20. The company notched higher revenues in all regions and across most product categories, although iPhone sales lagged expectations. The iPhone maker reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.04.

Even though the results were low from the preceding five years, CFO Luca Maestri said during the earnings call that the revenue growth in the March quarter was a "very strong 20% for year on year basis in emerging markets such as India, and is nearly at par with the 21% year-on-year growth in the Greater China region, the highest in the last 10 quarters". Apple had a net margin of 21.55% and a return on equity of 39.33%. Apple's revenue was up 15.6% on a year-over-year basis. As a result, analysts had expected Apple to repatriate most of its $252bn in cash overseas.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 17th. Stockholders of record on Monday, May 14th will be issued a dividend of $0.73 per share. This is an increase from Apple's previous quarterly dividend of $0.63. This represents a $2.92 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Friday, May 11th. Apple's payout ratio is 27.36%.

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Apple also promised to hike its dividend by 16 percent and to buyback $100 billion worth of additional stock, which analysts said would create a floor for shares. But the Weibo report indicates that the iPhone maker could open up the standard and allow its MFi partners to start manufacturing compatible cables sometime in 2019.

Experts believe that for Apple to gain market share in India, it will have to cut its price which it can not as it will then lose aspirational value for which it charges the premium. Rosenblatt Securities reissued a "buy" rating and set a $180.00 price target on shares of Apple in a research report on Friday, January 19th. That brings the overall segment to the size of a Fortune 300 company, Cook said, which is crucial for Apple as it looks to build out its ecosystem and further tie together its devices and services.

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