5 Stocks Making Headlines After Earnings Reports

3. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 138

Shares of Apple Inc. (NASDAQ:AAPL) turned red in the pre-market trading session on Friday, 29 October 2021, after revenue for its fiscal fourth-quarter missed expectations. The world’s most valuable tech company reported earnings of $1.24 per share, up from 73 cents per share in the year-ago quarter.

Revenue came in at $83.4 billion, up 29 percent on a year-over-year basis. Analysts were expecting Apple Inc. (NASDAQ:AAPL) to earn $1.24 per share on revenue of $84.9 billion.

Now, we will look at the sales performance of Apple Inc. (NASDAQ:AAPL)’s flagship products. iPhones revenue in the quarter jumped 47 percent on a year-over-year basis to $38.9 billion, while iPad revenue jumped 21 percent to $8.3 billion. In comparison, Mac revenue inched up two percent to $9.2 billion.

Discussing the results, CFO Luca Maestri said:

“Our record September quarter results capped off a remarkable fiscal year of strong double-digit growth, during which we set new revenue records in all of our geographic segments and product categories in spite of continued uncertainty in the macro environment.”