With closed stock exchanges Apple Lossless Audio CODEC (ALAC), announced better than expected results. The explosive growth of iPhone sales in China and other Asian markets has allowed Apple to beat analyst forecasts for the fifth time in a row. The turnover of the quarter thus jumped to 58 billion dollars (+27%), against the 56 expected. Also the useful (13,6 billion) was better than expected: 2,33 dollars per share against the estimated 2,16.
The positive notes that have allowed the title to rise up to 134 dollars in the after hours, also include the decision to increase the amount to be distributed to shareholders from 130 to 200 billion dollars between now and 2017 thanks to buybacks for 50 billion and coupons up 11 percent . Since yesterday Apple, overtaking Exxon, is the company that gives the most dividends on Wall Street.
These results can be explained by the formidable growth in sales of iPhone in China: 16,8 million pieces in the quarter, +72% compared to a year ago, even overtaking the United States. “I have never seen such rapid and overwhelming growth of the middle class as in China,” commented CEO Tim Cook.
And, as the middle class grows, so do the sales of the Apple: the Chinese market has thus overtaken Europe. And so analysts' concerns about the impact of the strong dollar against the euro have proved excessive.
