How did Apple perform in the second quarterly result of 2020?
Apple have generated a revenue of $58,3 Billion. Which is an increase of 1% compared to a year ago. “Despite COVID-19’s unprecedented global impact, we’re proud to report that Apple grew for the quarter, driven by an all-time record in Services and a quarterly record for Wearables,” said Apple CEO Tim Cook. ” Let’s take a look at those numbers. Compare to last year. The revenue grew about 1%. And 62% of Apple’s revenue came from outside the US. The service revenue exploded sky high with 13,3 billion USD. So you can see that Apple have performed really well this quarter.
What do most analyst thinks of Apple performance?
Most analyst are really optimistic about Apple stock, some of them think that Apple will reach a stock price 380 USD this year. Main reasons are that they expected that Iphone 5g will increase the sales. With the world that are getting out of the lock-downs, analyst are expecting that the sales of product will increase more. source: barrons
How will Apple manage the corona virus getting into the 3rd quarter?
In my personal opinion, I the third quarter for Apple will be heavy. As many countries went into a lock-down. Many business went bankrupt. So the outlook for many consumers are not too well. I expect that consumers will save more money and spend less. I have no doubt that new Iphone 5G will be awesome. But i am not sure if many are still eager to get that new Iphone as their economic situation is uncertain. So I think that currently analyst are way too positive. I think when third quarter results come out, the stock price of Apple will drop. Longterm I am bullish on this stock but short term a bit bearisch.