It’s tough to keep Apple down.
Then again, there’s really no reason for it to be down.
For one, it just reported blow out earnings. EPS of $2.58 was better than estimates for $2.04. Revenue of $59.69 billion beat estimates for $52.25 billion. iPhone revenue soared to $26.42 billion, as compared to estimates for $22.37 billion. Services revenue jumped to $13.16 billion, as compared to expectations for $13.18 billion.
Two, the company just declared a 4:1 stock split and declared a dividend of 82 cents, payable on August 13. “This is Apple’s fifth stock split since it went public. It also split on a 7-for-1 basis on June 9, 2014; a 2-for-1 basis on February 28, 2005; a 2-for-1 basis on June 21, 2000; and on a 2-for-1 basis on June 16, 1987,” said CNBC.
And, as of this morning, Apple announced that it’s preparing to launch new subscription plans that bundle several of its services together, as noted by Bloomberg.
“According to the report, Apple plans to package services like Apple TV+, Apple Music, Apple News+, Apple Arcade and iCloud storage into different plans that provide consumers a discount for packaging everything together. Those services typically cost between $4.99 and $9.99 per month. The report said Apple is preparing several different tiers, including one that offers everything and others that bundle some services but not others. One may also offer a new workout class subscription,” as highlighted by CNBC.
Since bottoming out in March 2020, shares of Apple have rocketed from $211.65 to $457. As we near its 4:1 split later this month, we wouldn’t be shocked to see AAPL nearing $480.
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