Apple late Monday crushed Wall Street’s fiscal second-quarter estimates, delivering much better than expected revenue and earnings driven by continued strong iPhone 6 sales. Apple (AAPL) sold 61.2 million iPhones in the March-ended quarter, up 40% year over year and better than even the most optimistic forecasts. On average, Wall Street analysts were counting on sales of 58 million units. “We’re seeing fantastic results for
Apple sauced estimates late Monday, delivering better-than-expected March quarter sales and earnings, fueled by continued strong iPhone 6 sales. Apple sold 61.2 million iPhones in the March quarter, beating even the most optimistic forecasts. Wall Street was counting on 58 million units. The Cupertino, Calif.-based company also increased its capital return program by more than 50%. Under the expanded program, Apple plans to spend $200 billion in cash for stock buybacks and dividends by the end of March 2017. Directors increased the share repurchase authorization to $140 billion from the $90 billion level announced last year. The board also increased Apple’s quarterly dividend by 11%. Apple (AAPL) stock was up more than 1% in after-hours trading Monday, putting it in record high territory. During the regular session, Apple rose 1.8% to 132.65. Apple hit an all-time high of 133.60 on Feb. 24. For its fiscal Q2 ended March 28, Apple …
While all eyes are sure to be focused on Apple’s (AAPL) earnings Monday, here are five top-rated stocks on the IBD 50 list that shouldn’t be overlooked, including Apple chip supplier Skyworks Solutions and LinkedIn: Chip designer Cavium (CAVM) reports first-quarter results after the close on Wednesday. Earnings are projected to increase 30% to 39 cents a share, while revenue is expected to climb 22% to $101.7 million. Cavium has a highest-possible