Posts At Eventide

Where In The World Is Apple's Growth?

2013-05-26T11:05:00.000-07:00

In the first two quarters of FY2013, Apple realized a revenue growth rate of 14.73% to $98.115 billion dollars. In the first two quarters of FY2012, which included an additional shipping week, Apple's revenue rose 66% year-over-year, setting a very challenging growth comparison for the six-month period ended in March. There's no disputing the fact Apple's revenue growth rate has slowed and

Apple: There And Back Again

2013-04-28T15:20:00.001-07:00

On April 23rd, Apple released the company's results for its second fiscal quarter of 2013. Reported revenue of $43.60 billion represented a March quarter record and the third highest quarterly revenue performance in the company's stored history. However, March quarter earnings per share fell to $10.09, down 18% year-over-year. In today's article I will review Apple's March quarter performance,

Apple's March Quarter Madness

2013-03-23T17:11:00.001-07:00

Saturday, March 30th will mark the end of Apple's second quarter of FY2013. With near certainty, the March quarter will represent the first quarter of negative net income growth in the company's recent history. It may also represent the low point in a multi-quarter cycle of reduced rates of revenue and earnings growth. In this article I will analyze Apple's growth performance since the first

Apple's Revenue By Region: There's More To The Company's Story

2013-02-23T15:31:00.001-08:00

On February 27th Apple will host its annual meeting of shareholders. While much attention is being paid to the company's holdings of cash and marketable securities and the recent sell-off in the share price, very little attention is focused on the company's organic growth. In the December quarter, Apple's revenue rose nearly 27% on an equal week basis and the company reported record

The Mysterious Case of Apple's Missing Growth

2013-01-24T20:20:00.001-08:00

Under the headline "Apple Reports Record Results," the company delivered what appears at first look a modest performance in its December quarter. For the 13-week period ended December 29, 2012, Apple reported revenue of $54.512 billion and earnings per share of $13.81. The outcome represents revenue growth of 17.65% over the prior-year period and a slight decline in earnings per share from

Why Apple Will Beat The Street

2012-12-01T19:59:00.001-08:00

Apple ended November trading at $585.28 per share. At the closing price on November 30th, the shares traded at 13.28 times trailing12-month earnings and off 17% from the all-time high of $705.07 set on September 21, 2012. In the ten weeks since the all-time high, analysts have reduced their expectations for the company's December quarter and the fiscal year ending in late September. The changes

Apple: Follow The Road Paved With Gold

2012-11-03T13:53:00.004-07:00

On Friday, November 2, 2012, Apple closed down on the day 3.31% at $576.80. This was the lowest closing price for the shares since July 27, 2012 and the shares ended the day and the trading week off more than 18% from the all-time high of $705.07 set on September 21, 2012. For long-term investors, Friday's closing price represents an excellent entry opportunity to realize very strong share

View Apple By Seasons, Not By Quarters

2012-10-26T19:37:00.001-07:00

On October 25th, Apple announced earnings for the 13-week period ended September 29, 2012. For the quarter, Apple reported revenue growth of 27.22% to $35.966 billion and earnings per share growth of 22.98% to $8.67 per share. The earnings per share outcome in the quarter was negatively impacted by accelerated recognition of foreign exchange-related losses. In contrast to the September

Apple, iOS Devices and the Precipice of Success

2012-09-22T21:59:00.001-07:00

On August 11th, I published my updated AAPL 12-month price target of $950 per share. Since that date, AAPL has moved from $620.73 to $700.09 per share. On Friday the shares set an all-time intraday high of $705.07 as the rollout of the iPhone 5 began in the US and select markets around the globe. Apple's newest iPhone handset is an early and unqualified success. I've mentioned several times

Apple Price Target: $950 Per Share

2012-08-11T20:10:00.003-07:00

Today I am updating my 12-month Apple price target to $950 per share. This price target represents an expected share price appreciation of 52.8% from Apple's closing price of $621.70 on August 10th, 2012. I expect share price appreciation, on average, to trail behind the rate of earnings per share growth over the next 12 months as Apple's massive market cap influences the share price

June Quarter Results: Apple's Melancholy Moment

2012-07-24T23:54:00.001-07:00

On Tuesday, Apple reported underwhelming results for the three-month period ended June 30, 2012. For the quarter, Apple reported revenue of $35.023 billion and earnings of $9.32 per share, representing 22.58% revenue growth and eps growth of 19.57%. The fiscal quarter's outcome, against expectations of much stronger growth, represents Apple's melancholy moment and a slow-growth period in a

Apple's Competent June Quarter

2012-07-15T14:28:00.000-07:00

In the first six months of Apple's current fiscal year, the device maker realized revenue growth of 66.35% and earnings per share growth of 104.03%. The successful release of the iPhone 4S and the addition of new carriers such as Sprint pushed recognized revenue from iPhone sales up nearly 107% in the six-month period and represented 55% of the company's revenue total. On July 24th, Apple

Apple's Net Income Thrill Ride

2012-06-23T12:53:00.000-07:00

Last week in an article titled, Apple's Revenue Growth: A Dual-Track Bullet Train, I analyzed Apple's rates of revenue growth and the company's relentless geographic expansion that supports the fast rates of growth. In today's article, I am providing an overview of Apple's net income growth and the influences on the company's rising profitability. Apple's Net Income Thrill Ride Apple is not

Apple's Revenue Growth: A Dual-Track Bullet Train

2012-06-16T12:47:00.000-07:00

Apple is unique among the world's mega caps due in part to the company's extraordinary rates of revenue growth and extraordinary rates of revenue growth matched with consistently high gross margin. Over the most recent six fiscal years, Apple's recognized revenue rose nearly sixfold and earnings per share rose more than twelvefold. In the first six months of the current fiscal year alone,

The Apple June Quarter Halftime Report

2012-05-19T17:56:00.001-07:00

On Friday, May 18th, AAPL ended the week's trading at $530.38 per share, down 17.5% from the all-time high of $644 per share set on April 10th in intra-day trading. Although at Friday's closing price the shares are up 31% on the calendar year, the current price-earnings multiple of less than 13 times trailing 12-month earnings of $41.04 is at the low end of the trading range established over

Apple's March Quarter Results: The Good, The Bad and The Irrelevant

2012-04-24T22:19:00.001-07:00

On April 24th, Apple announced results for the company's 2nd fiscal quarter ended March 31, 2012. For the quarter Apple reported revenue of $39.186 billion and earnings of $12.30 per fully diluted share. These results represent year-over-year revenue growth of 58.9% and eps growth of 92.2%. Apple's results for the March quarter exceeded Wall Street estimates by a country mile and in after

Apple's Monster Quarter - The Sequel

2012-04-15T22:50:00.005-07:00

Last fall I dubbed Apple's December quarter "The Monster Quarter". The company's December quarter performance lived up to the name. In the 14-week period ended December 31, 2011, Apple reported recognized revenue growth of 73.27% to $46.333 billion and eps growth of 115.71% to $13.87. Apple's Monster Quarter - The Sequel Today I am calling the company's March quarter "Apple's Monster Quarter -

The Braeburn Group AAPL March Quarter Estimates

2012-04-07T23:40:00.006-07:00

On April 24th Apple will announce results for the company's 2nd fiscal quarter ended March 31st. To gauge expectations for the March quarter, we asked members of the Braeburn Group, formerly known as the AAPL Independent Analysts, to submit estimates for the company's March quarter performance. The group takes its new name from the braeburn apple, a hybrid cultivar of the popular fruit.Among the

Apple: Focus On Earnings Growth, Not The Earnings Multiple

2012-03-04T23:15:00.004-08:00

On February 11, 2012, I issued a revised 12-month price target for Apple of $790 per share. Since that date the share price has risen about 10% to Friday's closing price of $545.18. Over the next twelve months I expect the share price to rise at least 45% from Friday's closing price to reach above my published target.Posts At Eventide Axiom #1: Focus on Earnings Growth, Not The Earnings

Apple Price Target: $790 Per Share

2012-02-11T16:46:00.000-08:00

Today, I am publishing an updated price target for Apple of $790 per share. This target forecasts a 60% gain in the share price from the closing price of $493.42 on Friday, February 10, 2012. I consider this price target to be moderate based on the expectations of strong revenue and earnings growth over the next 12 months and the low valuation range in which the shares currently trade, despite

Apple: Rising Revenue, Falling Costs Per Revenue Dollar

2012-02-06T21:51:00.000-08:00

For the 14-week period ended December 31, 2011, Apple reported record revenue in the fiscal quarter of $46.333 billion representing a 73% year-over-year gain. The company also reported a 115.7% rise in earnings per share to $13.87. No one can dispute the success of the company's popular products. But Apple's extraordinary eps growth in the December quarter and eps growth over the past two fiscal

Apple: March Quarter Expectations After Record FQ1 Results

2012-01-24T20:39:00.000-08:00

On Tuesday Apple announced record quarterly revenue of $46.333 billion and record eps of $13.87 in the December quarter. The 73.2% rise in revenue and 115.7% rise in earnings per share were fueled by strong domestic demand for iPhones, iPads and Macintosh personal computers and by gross margin in the quarter of 44.7%.In announcing the company's FQ1 results for the 14-week period, Apple offered

Apple's "Monster Quarter" Will Deliver Monster-Sized Results

2012-01-07T22:58:00.000-08:00

Apple stands at the threshold of becoming the nation's largest technology company. Apple will soon surpass Hewlett-Packard in quarterly revenue while delivering more than $.25 of each revenue dollar to the net income line. By the end of this month and in response to the company's December quarter results, Apple will again surpass Exxon-Mobil in market cap to become the nation's most highly

Apple's Monster Quarter And The Pending Share Price Advance

2011-12-25T18:28:00.000-08:00

Apple is unique among America's mega caps due to the company's ongoing rates of revenue and earnings growth. From $108.25 billion in revenue reported in the fiscal year ended in September, Apple will surpass $170 billion in revenue this fiscal year and reach over one-quarter trillion dollars in revenue in FY2013. At a current market cap of $375 billion, the shares trade at about 14.5 times

Apple's Ghost Of Christmas Yet To Come

2011-12-11T10:41:00.000-08:00

In the famous novel by Charles Dickens, Ebenezer Scrooge is visited on the night before Christmas by Ghosts of Christmas Past, Present and Yet To Come. The story, which has endured many popular adaptations, ends with the conversion of a miserly and miserable man to a gentleman who carries with him the hopeful and generous spirit of Christmas to the end of his years.I have followed Apple since the