RECORDS BEYOND MARKET EXPECTATIONS
THE WRITING WASN’T QUITE ON THE WALL STREET
It would be fair to say that Wall Street was feeling the jitters in the run-up to Apple’s latest quarterly earnings announcement on Tuesday. Persistent reports of unexpectedly weak iPhone X sales were a factor when, in mid-March, the NYSE FANG+ Index – which monitors 10 leading tech companies, including Apple – saw its largest ever one-day drop. However, the release of the actual earnings results, and many pledges made by Apple in the aftermath, have given much cause for optimism.
GLOOMY PREDICTIONS, BUT WITH TINGES OF OPTIMISM
The week before, GBH analyst Daniel Ives admitted that “the Street has gone into ‘full panic mode’ as supply chain checks out of Asia indicate that June iPhone shipments
