Apple Reports Record First Quarter Results
Notes:<p>- for first time seeing analysts excited about other products, watch and airpods as being real drivers of bottom line revenue!!!<p>- interesting note from Bloomberg tech reporter 
 "Apple’s new revenue strategy isn’t a bad one. It’s, basically, sell the customer an iPhone every three to five years, and make a bunch of money in the years between by selling them a new Apple Watch or AirPods (which only last about three years tops before you need a new pair -- batteries!) and services. If a user subscribes to all of Apple’s services for two years straight, that’s about equal to revenue from a new iPhone. So in those cases, if that user doesn’t buy a new iPhone for a couple years, it’s not a big deal."<p>- apples done so well lately that the average analysts has a target price 5% below what apple is currently trading at<p>- they manufacture iphones 400 km from the center of the coronavirus outbreak, see if this is mentioned, also about 18% of apple revenue so China matters<p>- want to see what their effective tax rate is<p>Numbers:<p>- stocks almost back to record highs before reporting, after reporting it shot way past!!<p>- 1Q Revenue is $91.8B vs estimates of $88.38B!!!!!!<p>- 1Q EPS is $4.99 vs estimates of$4.56!!!!!<p>- wearables was $10 vs $7.3 last year( apple just continues to create $10+ billion dollar business every 3-5 years.  
Use to be that only MSFT could do that and GOOG spent heavily trying to do that<p>- iphone revenue for 1Q is $55.97<p>- service revenue for 1Q is $12.72<p>- declines in both mac($7.1 vs $7.4 last year) and iPad sales($6 vs %6.7 last year)<p>- iphone sales up everywhere except Japan<p>Numbers that really impress<p>- Cash/Equivalents have doubled from last year,
that funds a lot of money loosing streaming shows<p>- keeping in mind they bought back $37B in stock this year<p>- almost $100B in term debt<p>Supply Chain:<p>- Qurvo up 1%<p>- Skyworks up 1%<p>- Cirrus up 3%