Apple stock is spiking after a decisive earnings beat
Apple of course was never going away, but it did have a rough go of it last year. Sales have been lagging–especially for the iPhone–due, in part, to increased competition in China. This caused the company’s stock to plummet last fall.
But the computing giant’s latest earnings report show that things may be looking up. Here are a few of the highlights:
Overall, this is a big beat. While revenue is down around 5% from what it was a year ago, Apple still handily exceeded overall projections. The lag in sales, it seems, wasn’t as bad as predicted–and the company’s services segment is showing impressive gains. Further, the improved guidance indicates that the company sees better growth on the horizon.
Investors seem happy with these results, too. Apple stock is spiking in after-hours trading. It closed at $200.67 and is currently up over 5% at $210.99.
We’ll see if the stock will continue on this upward trajectory, and if the company has any surprises in store at its earnings call.