Apple resurges to lead the global smart phone market - Alldamoney

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Apple resurges to lead the global smart phone market

Apple's earnings beat Analysts expectations
Apple's earnings beat Analysts expectations 

(AAPL) - Apple's strong financial results in the latest quarter help send its shares to their highest level in 18 months on Wednesday while adding $40 billion to the company's market value. The iPhone sales hit a record high, Mac sales were solid, and the company’s stock soared on Wednesday as a result.

The company released a statement that its pleased to see the continued growth of its services business segment, which includes the App Store, Apple Pay, Apple Music, iCloud, Apple watches etc and its main moneymaker the iPhone bounce back strong. Mac sales, led by revamped MacBook Pro laptops, were also strong, though sales of the company's tablet, the iPad, continued to shrink witnessing its biggest grower year-over-year, jump by more than $1 billion in revenue since Q1 2016.

On Wednesday Shares of Apple, gained 6% to close at $128.79, the highest close since July 21, 2015, retaining the most valuable company in the world with almost $676 billion. Warren Buffett, an investor that has made his fortune buying when others are selling, built a big stake in Apple at the lows of the year last year should be smiling to the bank.

Most researchers think the global resurgence of the iPhone combined with the recall of the Galaxy Note 7 pushed Apple ahead in smartphone sales for the fourth quarter,even as the US company struggles to fend off domestic rivals in China.

In China during the quarter iPhone 7 was the best-selling smartphone, according to Kantar and the most popular brand on Alibaba (BABA).

While in India, where with the price of the latest iPhone, you could eat breakfast, lunch and dinner for an entire year, and still have a bit of cash to spare, apple aim to push deeper and open stores so that it can sell both used and new iPhones, and get a generation of India consumers hooked on its products.

Finally Trump policies which require corporations to bring offshore cash hoards back home with a flat 10% tax. A cut in the corporate tax rate will be a boom for earnings for apple investors.

Alldamoney '

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