Lates News

Citigroup released a research report stating that Apple's performance in the quarter ending in March exceeded expectations, with iPhone sales increasing by 2% year-on-year and a gross profit margin of 47.1%, in line with expectations. Sales in the Greater China region remained stable at a 2% annual decline (excluding the impact of exchange rates), an improvement from the 11% annual decline in the previous quarter ending in December last year. The company's guidance for the quarter ending in June is for total sales growth to be in the low to mid single digits year-on-year. In addition, the company has increased its dividend by 4% and announced an additional $100 billion share buyback plan. The bank has lowered its earnings per share forecasts for 2025 to 2027 by 7 cents, 5 cents, and 11 cents, respectively, due to tariffs, and has decreased the target price from $245 to $240. The bank stated that overall, the company's fundamentals remain strong and it has delivered impressive results in the face of tariff impact, maintaining a "buy" rating.