Apple’s first-quarter earnings
American tech giant Apple (AAPL) released its fiscal 2019 first-quarter earnings results on January 29.
During the company’s first-quarter earnings conference call, its management highlighted the steps it’s been taking to revive iPhone sales and create new revenue sources. These steps became investors’ key focus, which triggered a sharp rally in Apple stock.
After witnessing massive fall of over 30% in the quarter that ended in December 2018, Apple stock rose 5.5% in January 2019. As of February 15, the stock has risen 2.4% month-to-date compared to the 2.6% rises in both the S&P 500 Index (SPY) and the NASDAQ Composite Index.
In comparison, other tech companies Microsoft (MSFT), NVIDIA (NVDA), Qualcomm (QCOM), Netflix (NFLX), Intel (INTC), and Micron (MU) have risen 3.6%, 9.5%, 5.0%, 5.1%, 9.6%, and 9.9%, respectively, so far this month. In contrast, Facebook (FB), Amazon (AMZN), Alphabet (GOOG), and Advanced Micro Devices (AMD) have fallen ~2.5%, 6.4%, 0.6%, and 3.0%, respectively, in the same period.
In this series, we’ll take a look at some key recent updates from Apple and analyze the company’s progress in terms of reviving its iPhone sales. Toward the end of this series, we’ll also explore how AAPL’s valuation multiples and analysts’ ratings look in February.