Apple released their first quarter earnings today. The first quarter is always their hot quarter, given the holidays. Total revenues, gross profit, operating revenue and net income decreased a little, but it wasn't the disaster that you would think from the price action of the market.
Interestingly, EPS was up Q to Q. Looks like it was the result of a slight decrease in shares and a big decrease in the income tax provision.
Using the Peter Lynch method – personal observation -, you could see a lot of people buying apple watches. Everyone was getting them. It was not surprising that the watches were a big item responsible for the quarter. While I missed the growth in air pods, I should have seen it. Everyone at the gym, has these now. My kids also got them for Christmas.
Their geographic breakdown doesn't look like China hurt them too much. I'm sure they will be looking to diversify their sales base further in the future.
I knew Santa was going to bring me some gifts! Ho Ho Ho
