Apple announced financial results for its fiscal 2018 first quarter ended December 30, 2017. The tech company has reported a record-breaking income for the last 3 months quarter increased by 12% year on year to $20 billion, despite a drop in iPhone sales.
According to the International Data Corporation (IDC), despite iPhone sales dropped by 1 million devices to 77.3 million smartphones, the giant became leader of the quarter in smartphones market with 19,2% of share. Samsung has 18,4%, Huawei 10,2%, Xiaomi 7%, Oppo 6,8%. The global smartphone decreased by 6.3% in comparison to the same period of 2016.
“We’re thrilled to report the biggest quarter in Apple’s history, with broad-based growth that included the highest revenue ever from a new iPhone lineup. IPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November,” said Tim Cook, Apple’s CEO. “We’ve also achieved a significant milestone with our active installed base of devices reaching 1.3 billion in January. That’s an increase of 30 percent in just two years, which is a testament to the popularity of our products and the loyalty and satisfaction of our customers.”
Apple also is providing the following guidance for its fiscal 2018 second quarter:
- revenue between $60 billion and $62 billion
- gross margin between 38 percent and 38.5 percent
- operating expenses between $7.6 billion and $7.7 billion
- other income/(expense) of $300 million
- tax rate of approximately 15 percent
On March, 9 2017 I Know First issued a bullish 1 year forecast for Apple. The forecast illustrated a signal of 102.08 and a predictability of 0.57 (explanation on signal and predicability indicators can be found here). In accordance with the forecast, AAPL’s stocks increased during the year by 14.82%.
This bullish forecast for AAPL sent to current I Know First subscribers on March 9th.