Beats consensus. IPhone7 above expectations. Ridiculous +24% beat on services, Second-Gen watch and iPhone7 will do well this Christmas, (not enough data to contribute to 4th-Q numbers), 10th-Anniversary iPhone in-queue, buybacks continue, $.57 dividend announced – stock drops AH as lame speculators who bought this morning and held thru close get crushed.
Cook has been making nice with the Communist Chinese, expect that to bear fruition vs other non-Chinese competition. Everything is cool in other markets, especially Europe. Ignore NA numbers, the smart money will. India is the main focus, as well as Japan and other Asian countries.
The biggest competitor on the high end was Samsung, before their phones started literally exploding.
The iPhone7 is a status symbol. The Galaxy Note 7 is a disaster. Take that any way you want to.
BUY THE DIP – while you can, under $115 Average down if further weakness tomorrow. See me in March for further discussion. The Tenth Anniversary iPhone Edition due in 2017 is rumored to be a game-changer. Everything this fine American company does is planned years in advance. Target $130 June 2017.
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And here we are, up from $113 and pushing $115. Selah.