Apple has reported an over two-fold growth in net income to $7.31 billion for the April-June quarter of 2011. In the year-ago period, the iPhone maker had posted a net income of $3.25 billion, Apple said in a statement.
The company registered a record quarterly revenue of $28.57 billion in the third quarter ended June 25, 2011, as compared to $15.17 billion in the year-ago period, a jump of 82%.
During the quarter, Apple sold 20.34 million iPhones, translating into 142% unit growth vis-a-vis the year-ago period.
In addition, Apple sold 9.25 million iPads, a 183% unit jump over the year-ago quarter. Furthermore, the firm sold 3.95 million Macs during the quarter, a 14% unit increase over the year-ago period.However, sales of iPods declined by 20% from the year-ago period to 7.54 million in the third quarter of fiscal 2011.
In addition, Apple sold 9.25 million iPads, a 183% unit jump over the year-ago quarter. Furthermore, the firm sold 3.95 million Macs during the quarter, a 14% unit increase over the year-ago period.However, sales of iPods declined by 20% from the year-ago period to 7.54 million in the third quarter of fiscal 2011.
Looking ahead to the fourth quarter of 2011, the company expects to achieve a revenue of about $25 billion and earnings per share of about $5.50 a piece.
Apple Inc stock hit 52 week high on Tuesday's trade to touch $378.65 before closing at $376.85. At the Tuesday's closing price the company enjoys a market value of $348 billion and is trading at a PE multiple of approx. 15 times based on the estimated EPS of $25 for full year.
InvestorZclub believes that the stock might give 5-10% return from the current levels in next 6 months.
No comments:
Post a Comment