Apple earnings beat on the top and bottom line:
- EPS $1.52 versus $1.43 expected
- revenues $94.84 billion versus $92.97 billion expected
- Gross margins 44.3% versus 44.1%
- Buybacks $90 billion as expected
- Dividend increases 4% to $0.24
- iPhone revenues $51.33 billion versus $48.84 billion estimate
- iPad revenues of $6.67 billion versus $6.69 billion expected
- Wearables home and accessories $8.76 billion versus $8.51 billion expected
- Services revenue $20.9 billion versus $21.1 billion estimate
- Mac revenues $7.17 billion versus $7.74 billion expected
Apple has a cash pile of $166.3 billion versus $165.5 billion last quarter
Tim Cook says on India:
"The dynamism of the market really comes out there. And I do think that India is at the tipping point, and it feels good to be part of it"
Shares of Apple are trading at $167.62 up from $165.76 at the close. The 100 hour moving average has been rebroken at $166.62. Earlier today, the price tested its 200 hour moving average (green line in the chart below) and found willing buyers against them moving average level.
Moving back above the 100 hour moving average tilts the technical bias back to the upside.
Apple shares are trading back above the 100 hour MA
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