Apple shares gain ahead of earnings
It's earnings day for Apple (#aapl) and the stock price is already rising as investors keenly await Q1 results. The company will reveal all after US markets close and is tipped to announce plans to return between $100 and $150 billion to shareholders. Overall sales are expected to have increased by 15% to $61 billion.
The share price is likely to rise further, but optimism may be somewhat dampened due to the fact Apple sold only 3 million more iPhones in the quarter ending in March this year compared to the same quarter last year (53 million vs 50 million). iPhone sales are a crucial metric to watch for investors because Apple depends upon these devices to make up a large portion of revenues. Since its first release in 2007, the iPhone has made up a little over half of Apple's total revenue.
Via: https://invstr.com/