Top 5 Gainers on Friday

1. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 128

Apple Inc. (NASDAQ:AAPL) managed to surpass profit and sales expectations for its fiscal first quarter, sending its shares up more than 3 percent after the opening bell on Friday. The smartphone giant’s earnings rose 4 percent on a year-over-year basis to $1.29 per share, ahead of the consensus of $1.27 per share.

Moreover, revenue for the quarter jumped 8.1 percent versus last year to $90.15 billion, above the expectations of $88.90 billion. iPhone revenue increased to $42.6 billion, slightly below the estimates of $43.21 billion.

Apple Inc. (NASDAQ:AAPL) also released sales results of other notable segments. iPad revenue fell 13 percent to $7.2 billion, while Mac revenue jumped 25 percent to $11.5 billion in the quarter. In comparison, services revenue rose 5 percent to $19.2 billion. Analysts were looking for iPad revenue of $7.8 billion, Mac revenue of $9.3 billion and services revenue of $20.1 billion.

Among other updates, the company reported gross margin of 42.3 percent, against the consensus of 42.1 percent. Looking forward, Apple Inc. (NASDAQ:AAPL) projected gross margin of 42.5 – 43.5 percent for the current quarter.

You can also take a peek at 10 Best Cybersecurity Stocks To Buy Under $20 and 12 Best Consumer Staple Stocks.

Follow Insider Monkey on Twitter