Apple stock prices hit an all-time high in extended trading on Tuesday, flirting with the $160 mark, after the company reported better than expected earnings for its third fiscal quarter of 2017 and strong guidance for the coming quarter.
While Apple CEO Tim Cook didn't explicitly answer a question asking about three Apple plants in the U.S., he did note that there would be more announced "later in the year" about employment opportunities generated by Apple.
Apple again saw its sales and revenue grow in the third fiscal quarter of 2017, with $45.4 billion in revenue on strong iPhone, iPad and Mac sales. Following the news, the company held a conference call with media and analysts, and notes of interest follow.
Apple again saw its sales grow year over year in the June quarter, the company revealed on Tuesday, with $45.4 billion in revenue exceeding Wall Street expectations, again driven by strong iPhone sales, but also growth in its iPad and Mac businesses.
When Apple releases earnings later today, there could be concerns about the lack of any progress on U.S. tax reform—including deep cuts to health care spending aimed at enabling a huge tax cuts—or the repatriation of its overseas cash. On the other hand, political chaos in America has further weakened the US Dollar, enhancing Apple's foreign earnings in Fiscal Q3.
In a first formal step opposing the blockbuster tax ruling by the European Union, the U.S. government has reportedly filed with the European Union General Court to opposition the $14.8 billion mandate by the European Commission.
A problem traced back to the mishandling of daily Nasdaq test data caused the reported share prices of Apple, Google, Microsoft and a handful of other technology sector stocks to fluctuate wildly on multiple financial websites after trading ended on Monday.
Apple on Tuesday issued its second-ever "green" bond sale, valued at $1 billion, intended to fund the company's renewable energy builds as well as other environmental efforts, like improved energy efficiency.
Apple shares are down over $10 since Friday, reportedly part of a broader selloff of U.S. technology stocks, but also reflecting concerns over upcoming iPhones using slower cellular modems than their rivals.
An analyst with historically off-target guesses about Apple's hardware intentions and supply chain machinations is claiming that the "iPhone 8" will not only ship later than expected because of Touch ID supply problems, but also claims that full manufacturing won't fully ramp up until the first calendar quarter of 2018.
It no longer appears likely that Apple's overseas earnings can be repatriated back to the United States at more favorable tax rates this year, as plans for tax reform—including deep cuts to health care spending aimed at enabling a huge tax cut—have been delayed. On the other hand, unsettling political news is also having an adverse affect on the US dollar, creating an unanticipated side effect: a more favorable currency exchange environment for Apple's foreign earnings.
In anticipation of a pricey flagship iPhone later this year, investment firm UBS increased its price target for AAPL stock on Monday, advising investors to buy in before the launch of the highly anticipated "iPhone 8."
In its latest buy, Apple has paid around $200 million to acquire Lattice Data Inc., a specialist in using machine learning to process "dark data" to efficiently build structured data sets that can be analyzed.
Apple has invested into Gorilla Glass manufacturer Corning with the first award for $200 million from the Advanced Manufacturing Fund investment pool, to support "revolutionary glass production methods."