The stock price of Apple Inc (AAPL) closed the regular trading session at $172.39, 0.17% less than the previous trading session. The stock price kept oscillating between $171.63 and $172.38. During the last check, the stock gained 0.064% to $172.50. The company recently announced financial results of the first quarter of FY22, reporting all-time revenue records.
Financials
Apple Inc announced the financial result of the first quarter of FY22 which ended on December 25, 2021. AAPL reported record revenue of $123.9 billion, up 11% on a YoY basis. The company reported the earnings per share (EPS) of $2.10 against the estimated $1.89, giving a surprise of 11.11%. AAPL reported a net income of $34.63 billion against $28.75 billion during the same quarter, in the previous year.
AAPL: Executive Remarks
The Chief Executive Officer (CEO) of Apple Inc (AAPL), Tim Cook, said that the record result of the quarter was made possible by their most creative line-up of their services and products. He also said that they are delighted to see the reaction from clients all over the world while remaining connected has never been more important.
They are doing everything they can, to assist with building a better world – gaining ground toward our objective of becoming carbon neutral across our supply chain and products by 2030, working towards education, justice, and racial equity, he further added.
The Chief Financial Officer (CFO) of AAPL, Luca Maestri, said that the exceptionally strong client reaction to our new products and services drove double-digit growth in income and profit.
Apple’s executive staff has proclaimed a cash dividend of $0.22 per share. The dividend is to be paid on February 10, 2022, to investors as of the close of business on February 7, 2022.
What do analysts say about AAPL?
The New Street analyst upgraded the stock from sell to neutral. The analyst at Monness Crespi & Hardt reiterated the stock, increasing the target price from $184 to $199.
What next?
Apple is turning out amazing execution metrics and its business is developing along with the phone sales Investors are seeing the forthcoming VR/AR headsets as another potential product offering that can increase revenue. This will be one more string to the bow of Apple Inc that is going from one strength to another, making AAPL stock a good candidate to buy right now.
