'Huge AirPod growth' helped drive Apple's earnings, Bernstein's Toni Soccanogahi said.
Apple's strong fourth-quarter earnings were driven in part by "huge AirPod growth," Bernstein's Toni Sacconaghi said.
"A second quarter in a row of 50%+ [year over year] growth and the fact that Apple is beating AirPods forecasts weekly suggests strong double-digit growth is sustainable," Morgan Stanley analyst Katy Huberty said. Apple's wearables performance showed "positive trends for new products," Barclays analyst Tim Long said, giving hope for innovation in Apple's hardware line finding new profits.turned in stronger than expected fourth-quarter results but a second consecutive quarter of strong growth for wearables impressed analysts, who are looking for the tech giant to innovate beyond the iPhone.
"Wearables continue to lead growth. Many investors attributed 50% wearables growth in the June quarter to shorter lead times as demand caught up with supply, however a second quarter in a row of 50%+ [year over year] growth and the fact that Apple is beating AirPods forecasts weekly suggests strong double-digit growth is sustainable," Morgan Stanley analyst Katy Huberty wrote in a note to investors.Apple shares rose 1.7% in premarket trading Thursday from its previous close of $243.
predicted strong iPhone sales. But "huge AirPod growth" helped drive Apple's earnings, Bernstein's Toni Sacconaghi said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Apple Music Student Subscribers Will Get Apple TV+ for FreeDays after Verizon announced its deal with Disney+, Apple is unveiling a bundle of its own: free access to its upcoming Apple TV+ streaming service for anyone on the student tier of Apple Music
Read more »
Apple Earnings Beat Expectations, Showing Recovery From Trade War PressuresApple earnings beat expectations, showing recovery from trade war pressures—thanks to better-than-expected iPhone 11 sales and solid growth in its services business by skleb1234
Read more »
Apple shares rise on holiday forecast powered by Watches, AirPods and streamingApple Inc on Wednesday forecast sales for the crucial holiday shopping quarter t...
Read more »
Apple sees big growth in wearables, though iPhone sales drop yet again: Live blog'Oh boy. Tim Cook says Apple Card launch could be the most successful launch of a credit card in the U.S. ever.' That's emilybary on our live blog of the Apple earnings call:
Read more »
Stocks making the biggest moves after hours: Apple, Facebook, Lyft and moreSee which stocks are posting big moves after the bell on Wednesday.
Read more »
Apple needs CEO charm more than FacebookTim Cook has Washington and even Beijing on side, while Mark Zuckerberg can barely speak without annoying someone in power – and Facebook is blocked in China. Yet since D.C. pressure ratcheted up a year ago, Zuckerberg’s stock has performed better. Diplomacy only goes so far.
Read more »