AAPL Stock: Apple Erases Morning Gains On Profit Taking

Apple Inc (NASDAQ:AAPL) is tasting delicious to investors today after reporting impressive Q2 (Mar) earnings results last night. The headline numbers were quite good.

Apple reported a huge $0.42 EPS beat, well ahead of the $0.27 beat reported last quarter. Probably even more impressive was revenue jumping 53.6% yr/yr to a new MarQ record high of $89.58 billion, well above the $76.84 billion consensuses. Mac and Services delivered all-time record results, and Apple set new MarQ records for iPhone and Wearables sales.

Apple performed very well across its bevy of offerings, with strong double-digit growth in several product categories: iPhone sales jumped 66% yr/yr to $47.9 billion vs. $41.0 billion estimates; Mac sales jumped 70% yr/yr to $9.1 billion vs $6.6 bln tests

.iPad sales increased 79% yr/yr to $7.8 billion vs $5.7 billion ests; Wearables sales rose 25% yr/yr to $7.8 billion vs $7.6 billion estimates; and finally, Services revenue rose 27% yr/yr to $16.9 billion vs $15.7 billion estimates.

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AAPL stock has erased its entire morning gains and now down by 0.30% at $133.18, off a session high of $137.07.

Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.