April 24, 2014
Early overnight reports collated by Fortune unsurprisingly show analysts pleased by the higher-than-expected iPhone numbers, with five out of five rating the stock a buy, their price targets ranging from $75 to $252 above yesterday’s closing value. Apple reported iPhone sales of 43.7B against expectations of 38B, and revenue of $45.6B against the consensus estimate of $43.5B.
Katy Huberty, Morgen Stanley: Price target $630
Gene Munster, Piper Jaffray: Price target $640
Brian Marshall, ISI: Price target $600
Brian White, Cantor Fitzgerald: Price target $777
Peter Misek, Jefferies: Price target $625 …
April 23, 2014
Apple went over its Q2 2014 earnings today on its quarterly conference call with CEO Tim Cook and incoming CFO Luca Maestri. The company announced that former Burberry CEO Angela Ahrendts will finally be joining the executive team as SVP of Retail. Cook also addressed the recent debut of Microsoft’s Office productivity suite on the iPad.
But, as with any earnings call, the numbers that define Apple’s success or failure in the market took center stage. Here are some of the big ones you might have missed:
During Apple’s earnings call this evening, Apple CEO Tim Cook announced that the company has sold 20 million Apple TV boxes through the second quarter of 2014. Sharing this number is out of the ordinary for Apple, as it generally doesn’t break down specific sales for its set-top box like it does for other products.
Apple’s decision to give us specific sales information for the Apple TV, however, does corroborate with its move earlier this year to present the device as its own product line, as opposed to an accessory. Cook also said on the call that Apple TV is over a billion dollar market, which means that it is no longer just a “hobby” for the company.