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Bullish Options Prices Pop as Apple Stock Soars

Bullish Options Prices Pop as Apple Stock Soars”

In its quarterly report on Tuesday, Apple said it would earmark $100 billion for a new share repurchase program, succeeding a $210 billion buyback program that started in 2012 and will wrap up this quarter - roughly nine months ahead of schedule.

Apple's share price surged more than 4 percent to US$176.57 on Wednesday, giving the company a market capitalization of US$895 billion. According to Mia Huang, a Taipei-based analyst at Trendforce, the production volume of the iPhone X fell significantly in the most recent quarter.

That came on top of $22.8 billion in buybacks executed in the prior quarter, "a record amount for any issue in any quarter", analyst Howard Silverblatt said.

Overall, Apple revenue rose 16% to $61.1 billion in the three-month period, the fastest growth in more than two years.

Apple's Services and "other products" businesses saw the most impressive growth during the second quarter, with sales of $9.1bn (up 31 per cent) and $3.95bn (up 38 per cent).

Sales growth of more than 20% in Japan and the greater China market - a critical area for the company - helped to lift the numbers. The Cupertino-located firm also was more positive about the present quarter in comparison to most financial experts, increasing shares to $175.25 by 3.6% after hours. "Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter".

Imvestors, however, had a lot of expectation from iPhone because it was regarded as the best predictor of Apple's growth in the market.

These metrics also don't mention where the new users of Apple Pay come from: the service launched in several new markets previous year (it's now available in 21 markets), including Denmark and Finland.

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San Francisco - Apple lavished cash on its shareholders like no company in history in the first three months of 2018 and it intends to keep doing so, making the iPhone maker's investors the clearest winners yet from 2017's sweeping United States corporate tax cuts.

Today's post-earnings pop has Apple shares bouncing off familiar support in the $164-$165 region, which served as a floor in November and March, and represents a 10% pullback from the stock's mid-March record high of $183.50.

The shares gained after the company reported iPhone sales in line with analysts' expectations, gave a bullish revenue forecast and highlighted a surging services business. He called the phone a "Super Bowl victor", and said that Apple couldn't be prouder of the device. Despite the lower Average Selling Price (ASP), revenue attributed to the iPhone rose 14% year-over-year.

Apple is said to be focusing on services after witnessing a slowdown in smartphone sales.

"The guidance for the third quarter alleviates investor concerns on iPhone shipments", said Shannon Cross of Cross Research.

The company is the world's second largest smartphone manufacturer behind Samsung and with a clear lead over third-placed Huawei.

"I don't buy the view that the market's saturated", Cook said.

Apple pushed the industry towards "wireless" connectivity couple of years ago with the iPhone 7 and the iPhone 7 Plus.



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