AAPL closed at $151.12, the seventh time this year the share price has set a new record.
We previously noted some of Apple’s recent ups and downs.
On the plus side, Apple suppliers have been reporting strong earnings; tax breaks have been agreed for making iPads in India; and a trio of market intelligence reports point to very high demand for Macs. On the downside, antitrust, taxation, and right-to-repair pressures continue.
But Apple itself seems optimistic, reportedly asking suppliers to produce 90 million iPhone 13 models by the end of the year.
Since then, the company reported record Q3 earnings of $81.4B, up a massive 36% on the same quarter last year.
Apple (AAPL) has officially reported its earnings for fiscal Q3 2021, covering the months of April, May, and June. For the quarter, Apple reported $81.43 billion in revenue, up 36 percent year over year, and profit of $21.74 billion. It reported earnings-per-share of $1.30.
This compares to the revenue of $59.7 billion and profit of $11.25 billion the company posted for the same quarter last year.
Apple did not provide guidance for Q3 2021 due to uncertainties caused by the COVID-19 pandemic, but analysts still had their expectations. As we detailed earlier this week, even the most pessimistic of them expected substantial revenue growth. The low estimate was $65.68B, while the high end was $77.15B.
Yesterday, a financial adviser suggested that AAPL investors who have enjoyed strong gains should give back to the company by buying the latest iDevices.
I would like to encourage my fellow Apple 3.0 investors to consider doing the same. Why hold on to your iPhones or iPads for years? You can afford to buy the new ones with the generous returns of your Apple investment. Grow the installed base and act as a mobile showroom with Apple’s latest and greatest in your hands and on your wrist.
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