FY 24 Second Quarter Results
Apple’s conference call to discuss second fiscal quarter results and business updates is scheduled for Thursday, May 2, 2024 at 2:00 p.m. PT / 5:00 p.m. ET.
FY 24 Second Quarter Results
Apple’s conference call to discuss second fiscal quarter results and business updates is scheduled for Thursday, May 2, 2024 at 2:00 p.m. PT / 5:00 p.m. ET.
Soon, at least the audio, nice tunes while we wait…
Woot! I hope it holds up tomorrow. Perhaps the market also likes the “largest ever stock buyback” which presumably indicates management’s optimism about Apple’s future!
• Apple announces largest-ever $110 billion share buyback as iPhone sales drop 10%
• Apple CEO Tim Cook told CNBC that year-over-year sales suffered from a difficult comparison to the year-ago period.
Definitely, I’m afraid I nodded off, missed the buyback announcement, but sure do see the After Hours jump… Not the usual reaction, but as noted, let’s see what tomorrow brings…
Apple’s board of directors has declared a cash dividend of $0.25 per share of the Company’s common stock, an increase of 4 percent. The dividend is payable on May 16, 2024 to shareholders of record as of the close of business on May 13, 2024. The board of directors has also authorized an additional program to repurchase up to $110 billion of the Company’s common stock.
A strange positive take on AAPL today, a Friday, after the positive report, generally it falls flat for a bit…
Not Complaining!
185.79. +12.76 (+7.38%)
on very high Volume of 112K+ so far!
Volume was 157K+!! Closed at 183.38+10.35 (+5.98%)
Disappointing news (iPhone sales down), Apple skyrockets because it’s better than expected (but not as down as some expected).
Good news overall, Apple plummets because analysts go hunting for – and highlighting – the disappointments.
I was expecting AAPL to drop after the announcement. Buy-and-hold still works, though.
To be fair, AAPL has had its share of big increases after all-around good news. And I held through the big drop(s) in the 2000’s, when Apple was still getting its footing after Jobs’ return.
-awlabrador
An interesting earnings report, for sure…
The scale of AAPL shares that Warren B manages is mind blowing to this grasshopper, but also nice that he’s still OK with the rest…
As reported by [CNBC] , Berkshire’s Q1 2024 earnings report revealed that its stake in Apple is now worth $135.4 billion – indicating that it holds around 790 million shares. Based on Apple’s stock price, this would mean Berkshire sold about 115 million shares, CNBC says.
And he only sold less than 0.1% of his total Apple shares. Nothing to see here, and he just needed some cash for other purposes.
EDIT: oops - I misread the number of shares sold as the dollar amount. Thanks to RHinCT below for calling it out.
Given that China has discouraged iPhone sales domestically, I think that iPhone sales were only down by 10% was very positive.
Was that less than 0.1% a reference to Buffet’s personal shares? If Berkshire was left with 790 million after selling 115 million, that is an almost 13% reduction.
Sorry, I misread " 115 million shares" as 115 million dollars!
So, yeah, a 13% reduction is significant. Still not too worried though.
Maybe this is why Apple is increasing it buy back program.