Stifel Likes Apple (AAPL) Set-Up Into Late 2016/2017

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Apple Reports Second Quarter Results

April 26, 2016 4:30 PM EDT

Capital Return Program Expanding to $250 Billion

CUPERTINO, Calif.--(BUSINESS WIRE)-- Apple® today announced financial results for its fiscal 2016 second quarter ended March 26, 2016. The Company posted quarterly revenue of $50.6 billion and quarterly net income of $10.5 billion, or $1.90 per diluted share. These results compare to revenue of $58 billion and net income of $13.6 billion, or $2.33 per diluted share, in the year-ago quarter. Gross margin was 39.4 percent compared to 40.8 percent in the year-ago quarter. International sales accounted for 67 percent of the quarters revenue.

Our team executed extremely well in the face of strong macroeconomic headwinds, said Tim Cook,... More