With a better-than-expected iPhone 8 launch quarter, and a highly anticipated debut for the flagship iPhone X, investors on Wall Street are riding high on Apple stock, pushing shares into uncharted territory as analysts increase their forecasts to trillion-dollar market cap levels.
Apple is predicting that for the first quarter of its 2018 fiscal year, ending in December it will make more money than it ever has before, expecting revenue between $84 billion and $87 billion mostly on the strength of the iPhone X.
Exceeding market expectations with another strong quarter, Apple saw growth in its three main businesses of iPhone, iPad and Mac, on its way to $46.7 billion in revenue. Following the reveal, the company held a conference call with media and analysts, and notes of interest follow.
Apple on Thursday reported an iPhone 8 launch quarter that exceeded market expectations, topping revenue from a year ago by 12 percent as Apple's diversified iPhone lineup is showing signs of strength.
Thursday afternoon's quarterly earnings report from Apple will be the first indication the company has given as to the performance of the iPhone 8 since it debuted in late September, though any concrete indication of the performance of the iPhone X will likely remain mum until the conclusion of the holiday period.
Apple recently handed out restricted stock unit awards to its leadership team, with executives including SVP of Retail Angela Ahrendts, SVP of Worldwide Marketing Phil Schiller and others receiving 128,584 RSUs scheduled to vest through fiscal 2022.
While details on President Trump's proposed tax reform plan remain light, investors are hoping changes could allow Apple to bring some of its overseas cash back to U.S. shores, helping to push the company's stock price to new heights.
Apple's executive team, including head of retail Angela Ahrendts and SVP of Internet Software and Services Eddy Cue, on Sunday saw batches of performance based restricted stock unit awards vest, netting each common shares worth more than $19 million.
Apple has reportedly finished negotiation of its financial arrangement with Bain Capital and other investors, with a possible announcement of terms of the consortium's deal for Toshiba's chip foundry to be made public as soon as Thursday.
Following initial notice of a pending bond sale, Apple on Wednesday launched a $5 billion U.S. dollar-denominated debt offering to fund its capital return program, outstanding debt, acquisitions and other operational expenses.
Following a surge in Apple stock performance, Apple CEO Tim Cook last week collected the maximum number of restricted stock units — totaling 560,000 shares — afforded by his incentive plan, raking in $89.2 million for the effort.
Apple is looking to raise $2.5 billion Canadian dollars, worth $1.96 billion at current exchange rates, in its first Canadian debt offering, according to documents filed with the U.S. Securities and Exchange Commission on Tuesday.
Apple's international borrowing continues to expand to new countries, with the company revealing in a U.S. Securities and Exchange Commission filing on Tuesday that it will offer its first debt offering in Canadian dollars.