AAPL stock price today
AAPL Apple stock price today: Apple stock edged higher Thursday in extended trading after the tech giant posted first-quarter earnings that surpassed Wall Street expectations, fueled by record-breaking iPhone sales and a strong rebound in China.
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Cook also reported “double-digit” growth in India, where Apple is planning to open a new store in Mumbai, as per the Reuters report.
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Earlier this month, Apple partnered with Google to integrate Gemini AI models and cloud technology into its ecosystem, with a more personalized Siri expected later this year.
Despite AI lagging behind competitors like Samsung, Apple is steadily expanding its AI capabilities, while strong iPhone sales, robust services revenue, and a solid performance in China helped support investor confidence.
Apple reported EPS of $2.84, beating Wall Street’s expectation of $2.68.
How much revenue did Apple generate this quarter?
The company earned $143.8 billion, exceeding the forecast of $138.4 billion.
Apple Stock (AAPL) Rises After Strong Q1 Earnings Beat
The company reported earnings per share of $2.84 on revenue of $143.8 billion, exceeding analyst forecasts of $2.68 per share on $138.4 billion in revenue. iPhone revenue alone hit an all-time high of $85.3 billion, beating the $78.3 billion analysts had anticipated and up from $69.1 billion in the same quarter last year.Apple Earnings Report: iPhone Revenue Hits Record $85.3 Billion - Services, Mac, iPad, and Wearables Performance Revealed
Apple’s services business, which includes Apple Music, iCloud, and other software offerings, generated $30 billion in revenue, in line with expectations. Mac and iPad sales came in at $8.4 billion and $8.6 billion, respectively, while Wearables, Home, and Accessories revenue reached $11.5 billion, slightly below analyst estimates of $12.04 billion. CEO Tim Cook noted that supply constraints on the new AirPods Pro 3 limited growth in the segment, as per a Reuters report.Also read: Liftoff Mobile IPO: Blackstone-backed firm to list on Nasdaq as LFTO, seeks $5.17 billion valuation as US IPO market revives
Apple Earnings Call Insights: China and India Drive Strong Growth
China emerged as a standout market, with sales jumping nearly 38% year over year to $25.5 billion, surpassing the Visible Alpha estimate of $21.3 billion. The iPhone 17 drove strong adoption, including double-digit growth in users switching from Android devices.Cook also reported “double-digit” growth in India, where Apple is planning to open a new store in Mumbai, as per the Reuters report.
Apple Gross Margins Beat Expectations
Apple’s gross margins came in at 48.2%, above guidance and analyst expectations of 47.45%, suggesting that rising costs for DRAM memory chips and commodities like gold have not yet significantly affected profitability.Analyst Commentary on Apple Stock
eMarketer analyst Jacob Bourne highlighted that "The backdrop of inflation-fatigued consumers and an ongoing memory chip shortage will pressure hardware margins in coming quarters, making that high-margin services momentum even more vital," as quoted by Reuters.Also read: Montana earthquake today: 4.2 magnitude quake strikes near Great Falls – what areas felt the shaking and what we know so far
Apple Earnings Report: AI Push Accelerates
The company is also making a big push into artificial intelligence. Apple acquired AI startup Q.AI for $1.6 billion, one of its largest deals ever. The technology can interpret facial micro-expressions to support “non-verbal discussions” with an AI assistant.Earlier this month, Apple partnered with Google to integrate Gemini AI models and cloud technology into its ecosystem, with a more personalized Siri expected later this year.
Despite AI lagging behind competitors like Samsung, Apple is steadily expanding its AI capabilities, while strong iPhone sales, robust services revenue, and a solid performance in China helped support investor confidence.
FAQs
What was Apple’s Q1 earnings per share?Apple reported EPS of $2.84, beating Wall Street’s expectation of $2.68.
How much revenue did Apple generate this quarter?
The company earned $143.8 billion, exceeding the forecast of $138.4 billion.
