Cramer: I was surprised how 'bullish' Tim Cook was coming off Apple's first quarter
Investors that bought shares of Apple heading into the quarter made the right gamble, CNBC's Jim Cramer says.
"Not only did Apple deliver a nice top- and bottom-line beat, but China, the major source of weakness last quarter, is turning around," the "Mad Money" host says.said investors who bought Apple ahead of its first-quarter report made the right gamble.host typically does not recommend buying a stock ahead of earnings, in case the company delivers a bad report. But the tech giant did not disappoint on Tuesday.
"Not only did Apple deliver a nice top- and bottom-line beat, but China, the major source of weakness last quarter, is turning around," Cramer said. "When I spoke to [CEO] Tim [Cook] about it, I was surprised how bullish he was." While iPhone sales were down 17%, Cramer pointed out that Apple management said it picked up at the end of the quarter. Growth in the wearables segment and the nascent services business could make for a great second quarter, he added. AppleShares of Apple fell 1.93% during the session. The stock climbed 5% in after-hours trading.
"Apple bought back billions of dollars worth of stock with an average price of $167," he said. "Now it makes sense, too, as did the possibility that some enterprising analysts might soon realize, that the lifetime value of the service stream of an iPhone user … may turn out to be the greatest annuity of all time."
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
Apple CEO Tim Cook had an impact on the company before he was even hiredApple CEO Tim Cook impacted the company's operations practices when he was still in the interview process, according to a new book about his career.
और पढो »
Apple CEO Tim Cook: 'I think every kid in the world should learn' this skillTim Cook said called learning to code 'the most important second language you can learn' at the TIME 100 Summit in New York City. Here's why it's helpful to know.
और पढो »
Apple to Emphasize Services Push, as iPhone StallsWhen Apple reports results after the market closes, CEO Tim Cook could highlight a deal with Qualcomm as a source of optimism about the iPhone’s future.
और पढो »
General Electric shares pop nearly 5% on earnings beat—Cramer and other experts reactThe industrial giant topped earnings and revenue expectations and reaffirmed its forecast for the rest of the year.
और पढो »
Cramer: Be wary of stocks that rally into earnings reports, like Google-parent Alphabet did'A gentle dip ahead of earnings can be the best vaccination against a sell-off,' Jim Cramer says.
और पढो »
Jim Cramer revisits his top stock picks for the 5G rolloutIn February, he declared that Skyworks Solutions, Intel, Qualcomm, Broadcom, and Xilinx were the top five semiconductor companies that stand to benefit from the building of 5G infrastructure.
और पढो »
Cramer Remix: What 'Medicare for All' would mean for UnitedHealth GroupJim Cramer breaks down what the 2020 election could mean for UnitedHealth Group.
और पढो »
Cramer Remix: I think the stock market's biggest risk right now is the current IPO cycleJim Cramer says the barrage of IPOs flooding the market are looking frothy, adding that it could be a sign of irrational exuberance.
और पढो »
Cramer breaks down the 7 reasons why Chipotle is making a comebackJim Cramer says Chipotle CEO Brian Niccol gave a blueprint on how to succeed in retail in the company's earnings call Wednesday.
और पढो »
Cramer: Ford and Honeywell can withstand Uber's onslaught on the auto sector'The auto industry just isn't a bedrock part of this economy anymore, and very few companies saw this coming,' Jim Cramer says.
और पढो »
Cramer Remix: This defense stock had the best conference call in the sectorJim Cramer breaks down the recent strength behind Lockheed Martin's stock.
और पढो »