Apple bounces back as Chinese flock to iPhone

iPhone shipments up 17% in Q2 iPhone sales – driven by China – sparked a 7 per cent jump in Apple’s shares in New York last night [23rd April 2014], with overseas sales now accounting for two thirds of the manufacturer’s revenues. Shares in Britain’s Imagination Technologies – whose majority shareholders and customers include Apple – also perked up on the news this morning, with the stock rising more than 5 per cent in early London trading to around 193 pence. For its fiscal second quarter Apple posted earnings of $45.6 billion and a quarterly net profit of $10.2 billion.

This compares to revenues of $43.6 billion and net profit of $9.5 billion for the same period 12 months ago.

Apple also provided guidance for the next quarter, indicating that it expected revenues of between $36 billion and $38 billion.

Apple added that it intended to increase its dividend annually and revisit its cash plans at this time every year, in a move aimed at placating activist investors.

About Dave Evans

Dave Evans is a long established commentator on both the IT and cellular industries. His current focus is on share price trends within the sector. You can email him here
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