Apple Affects These Component Supplier on Earnings Day: Tech Business Wrap
The great expectations of Apple (NASDAQ:AAPL) investors, along with those of its component suppliers such as Broadcom Corporation (NASDAQ:BRCM), Cirrus Logic (NASDAQ:CRUS), OmniVision Technologies (NASDAQ:OVTI), and SanDisk Corporation (NASDAQ:SNDK), are down from the heights they enjoyed on the 21st of September — and so are shares.
That was the day in which Apple reached its all-time high as the iPhone 5 was introduced, but investors as they awaited the firm’s fiscal fourth quarter results, which came late, with a miss on earnings by 8 cents on $8.67, and a revenue beat by $200 million on $36 billion (up 27 percent year-over-year). During the period 26.9 million iPhones were sold, along with 14 million iPads, and 5.3 million iPods. The fiscal first quarter guidance calls for revenue totaling $52 billion, and earnings per share of $11.75, which is below the consensus of $55 billion and $15.41, respectively, but is typically conservative for the company, even if the earnings number does imply pressure on the margins. Sales of iPads were disappointing, but those of iPhones were the opposite. Finally, the gross margin came out 40 percent, which was down 280 basis points quarter-over-quarter, and 30 basis points year-over-year.
Apple has been a huge winning stock pick for Wall St. Cheat Sheet Newsletter subscribers. Don’t waste another minute — click here and get more of our CHEAT SHEET stock picks now.