Apple earnings top expectations, Investors can ‘breathe a sigh of relief’ on Q4 results: Analyst

Apple (AAPL) reported fiscal fourth-quarter results that topped Street expectations. The tech giant reported earnings per share of $1.46 compared to estimates of $1.39 and revenue of $89.50 billion versus estimates of $89.35 billion. The results got a boost from better-than-expected iPhone sales and its services segment. Greater China sales missed analyst estimates, however.
Tom Forte, D.A. Davidson Managing Director and Senior Research Analyst, discusses Apple’s earnings results ahead of its earnings calls and the challenges the iPhone maker is seeing in device sales and China.
“The 2% decline in China is a concern and China is about 20% of revenue for Apple,” Forte tells Yahoo Finance. “But, again, investors should breathe a sigh of relief to the extent that sales and earnings were better than expected and there’s enough in there to give some people hope.”
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