Apple sees broad strength; iPhone pricing power shines

The tech giant had strong sales across its product line while its guidance implies that demand for the pricey iPhone X is robust.

Brian Colello, CPA 7 November, 2017 | 6:00PM
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Brian Colello: Apple reported strong fourth-quarter earnings. The stock is up about 2% after hours to US$172 or so. Overall revenue and EPS were ahead of consensus. Most of it came from outside of the iPhone, which is really the big surprise in the quarter. Services revenue was exceptionally strong. Other product revenue was also very strong; watch unit sales were up over 50% year over year, and the Mac actually had a record quarter in the September quarter with strong sales from back to school season with the new Macbook lineup.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Apple Inc148.85 USD-0.31Rating

About Author

Brian Colello, CPA

Brian Colello, CPA  Brian Colello, CPA, is director of technology, media, and telecom equity research for Morningstar.

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