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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Apple reported fourth-quarter sales of $94.93 billion, exceeding profit expectations, driven by strong iPhone sales. However, the company offered a modest revenue growth forecast of low to mid single digits for the upcoming fiscal first quarter, raising concerns about sustaining momentum amid declining sales in China. Despite this, Apple anticipates double-digit growth in its services sector.
Apple's services unit has reached a remarkable $100 billion annual run rate, driven by a record $25 billion in revenue for the latest quarter, marking a 12% year-over-year growth. This segment, which includes offerings like Apple TV+, iCloud, and Apple Pay, boasts a gross margin of 74%, significantly higher than the overall company margin of 46.2%. Despite recent growth slowing to 9.1% in fiscal 2023, Apple remains optimistic about expanding its services through ongoing investments and new features.
Senior Vice President Katherine L. Adams sold 100,000 shares of Apple at an average price of $206.44, totaling $20.64 million, while retaining 191,543 shares valued at approximately $39.54 million. CFO Luca Maestri also sold 59,305 shares for $13.43 million, maintaining 107,788 shares worth about $24.42 million. In the last three months, insiders sold 517,924 shares valued at $114.79 million, with institutional investors owning 60.41% of the company.
Luca Maestri
People
05:20 01.11.2024
01:35 01.11.2024
18:54 16.10.2024
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