MICHAEL LIEDTKE AP Technology Writer
SAN FRANCISCO (AP) — Apple is still reaping huge profits from the iPhone while mining more moneymaking opportunities from the growing popularity of its smartwatch, digital services and wireless earbuds.
That combination produced a banner season for a company whose fortunes appeared to be sliding just a year ago amid declining sales for the iPhone, its marquee product for the past decade.
Apple’s fiscal first-quarter results, released Tuesday, provided the latest proof that the fears hanging over the consumer electronics icon might have been unfounded.
Apple’s profit and revenue for the October-December period topped analysts’ projections, providing another boost to a stock that has more than doubled in less than 13 months.
The shares surged by more than 2% to $325.33 in extended trading after the numbers came out. That’s up from $142 in January 2019 after Apple warned that consumers weren’t buying new iPhones at the clip that they once were, especially in China, the company’s biggest market outside the U.S. and Europe.
The mystery virus that has recently been killing people in China now looms as a potential concern for Apple, but investors for now are focusing on what now looks like an even more prosperous road ahead for a company that turned a $55 billion profit in its past fiscal year.
Apple got off to a fast start for fiscal 2020, with a first-quarter profit of $22.2 billion, or $4.99 per share, on revenue of $91.8 billion. Analysts polled by FactSet had predicted earnings of $4.54 per share on revenue of $88.5 billion.
With interest rates high, housing inventory low and Veterans Day just around the corner, Cheddar News took a look at how the current market is impacting those who served and continue to serve our country. Patton Gade, national director of military lending with UMortgage, explains how a VA loan works, its benefits and what's involved in the process of purchasing a home.
Stocks were mixed in Tuesday's early session as Wall Street came off a strong rally last week.
Google on Monday confronted the second major U.S. antitrust trial in two months to cast the internet powerhouse as a brazen bully that uses its immense wealth and people's dependence on one of its main products to stifle competition at consumers' expense.
Hilton Grand said it's in the process of purchasing Bluegreen Vacations in a $1.5 billion deal.
Walt Disney Co. named former PepsiCo veteran Hugh Johnston as its new chief financial officer.
The PlayStation 5 Slim will be reportedly released on Friday.
With the holiday season approaching, many are in the market for a new TV. Cheddar News breaks it all down.
Credit card usage is sure to tick up ahead of the holiday season. With cashback, airline miles and points to be earned, reward credit cards could give you a bonus. Grant Gallagher, associate vice president and head of financial well-being with Affinity Federal Credit Union, spoke with Cheddar News about why it's important to take advance of those rewards.
Tesla is increasing wages for factory workers in Germany.
People are making travel plans and booking tickets as the holiday season nears. Johannes Thomas, CEO of Trivago, joined Cheddar News to provide tips on saving when booking lodging ahead of Thanksgiving and Christmas.
