Apple posts record revenue but its value slips under $1tn - General Business

Apple which topped the $1 trillion mark on August 2 had a market value of $1.073 trillion at the close of trading on Thursday

Apple posts record revenue but its value slips under $1tn - General Business

Eight brokerages cut their price targets for Apple, but only one - Bank of America Merrill Lynch - cut its rating on the stock, to neutral from buy.

The iPhone growth is slowing down, but that hasn't affected Apple's revenue so far.

"If you go to the market and you push your cart up to the cashier and she says, or he says, 'How many units you have in there?' It doesn't matter a lot how many units there are in there in terms of the overall value of what's in the cart".

In August, the tech giant became the first $1 trillion publicly traded USA business, a milestone reached after it boosted revenue on higher-priced models such as the iPhone X. Yet just three months later, the company spooked investors by announcing it wouldn't disclose the closely watched iPhone sales figure.

Investors punished Apple in after-hours trading Thursday for one or both of two reasons. Global sales accounted for 61 percent of the total revenue, while services revenue touched an all-time high of $10 billion.

Apple announced its fourth quarter earnings for fiscal 2018, where it delivered record results from iPhone, services and wearables division.

Apple released its Q4 financial results last night.

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For its full fiscal 2018 ended in September, Apple reported revenue of $265.6 billion, beating analyst estimates of $264 billion. Analysts, who like to be spoon-fed as much information as possible, interpreted this change to mean Apple foresees declining unit growth of iPhones. The company is working on digital newspaper subscriptions and original video content for next year.

He added that Apple generated $19.5 billion in operating cash flow, and more than $23 billion was returned to shareholders in dividends and share repurchases in the September quarter, bringing the 2018 total to nearly $90 billion. Analysts expected revenue of $61.4 billion and earnings of $2.78 a share.

Apple, which topped the $1 trillion mark on August 2, had a market value of $1.073 trillion at the close of trading on Thursday, according to data compiled by Bloomberg.

The change is in line with how Apple already treats other hardware sales - such as those of the Apple Watch and HomePod - which it groups together rather than revealing sales in individual categories.

"When Apple was doing great, unit sales told a wonderful story".

iPads, meanwhile, hope to get a boost from the newly-launched iPad Pros, which now come with key features from the iPhone X, including Face ID and an edge-to-edge display, plus the new A12X Bionic chip. IPad revenue fell 15 percent to $4.09 billion from a year earlier.

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