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Apple (AAPL - Free Report) just posted one of the best quarters of its life. Of course it's now a Zacks Rank #1 (Strong Buy).
Apple is a personal technology company that sells across a stream of consumer products including iPhone, iPad, Mac, Apple Watch and Apple TV. It also provides experiences on services that include the App Store, Apple Music, Apple Pay and iCloud.
Best Quarter of All-Time
On Jan 27, Apple reported its fiscal 2021 first quarter earnings and blew by the Zacks Consensus by $0.27. Earnings were $1.68 versus the consensus of $1.41.
But that wasn't the big story.
Revenue jumped 21% year-over-year to an all-time record of $111.4 billion, with international sales making up 64% of that total.
It set new all-time revenue records for the iPhone, Wearables and the Services segments.
All Analysts Agree: Apple Is Crushing It
After the report, all the analysts were in agreement. Apple is operating on all cylinders.
All 12 analysts raised their fiscal 2021 full year earnings estimates after the report, pushing the Zacks Consensus up to $4.47 from $4.06.
That's earnings growth of 36.3%.
10 estimates were also revised higher for fiscal 2022, pushing that consensus up to $4.71 from $4.40.
It takes a lot of bullishness to get ALL of the Apple analysts to agree on the company at the same time.
That agreement has pushed the stock back to a coveted Zacks Rank #1 (Strong Buy).
It was last a Strong Buy stock in the third quarter of 2020 but you have to go all the way back to the third quarter of 2018 to find a time before that when the analysts were also as bullish.
Shares at Record Highs
You have a record quarter, shouldn't your stock see a record high?
Shares of Apple have soared in the last year, adding 74%.
It's no longer cheap, with a forward P/E of 30 and a P/S ratio of 7.9.
But revenue is expected to grow by 22.7% this fiscal year.
Is Apple a growth stock now?
Some of the other FAANG stocks qualify as growth stocks, including Netflix (NFLX - Free Report) and Amazon (AMZN - Free Report) .
With another quarter like this one, it might just qualify for that designation as well.
For investors who haven't yet bought the stock, it may be time to take another look at this technology giant.
[In full disclosure, the author of this article owns shares of Amazon in her personal portfolio.]
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
Image: Bigstock
Bull of the Day: Apple (AAPL)
Apple (AAPL - Free Report) just posted one of the best quarters of its life. Of course it's now a Zacks Rank #1 (Strong Buy).
Apple is a personal technology company that sells across a stream of consumer products including iPhone, iPad, Mac, Apple Watch and Apple TV. It also provides experiences on services that include the App Store, Apple Music, Apple Pay and iCloud.
Best Quarter of All-Time
On Jan 27, Apple reported its fiscal 2021 first quarter earnings and blew by the Zacks Consensus by $0.27. Earnings were $1.68 versus the consensus of $1.41.
But that wasn't the big story.
Revenue jumped 21% year-over-year to an all-time record of $111.4 billion, with international sales making up 64% of that total.
It set new all-time revenue records for the iPhone, Wearables and the Services segments.
All Analysts Agree: Apple Is Crushing It
After the report, all the analysts were in agreement. Apple is operating on all cylinders.
All 12 analysts raised their fiscal 2021 full year earnings estimates after the report, pushing the Zacks Consensus up to $4.47 from $4.06.
That's earnings growth of 36.3%.
10 estimates were also revised higher for fiscal 2022, pushing that consensus up to $4.71 from $4.40.
It takes a lot of bullishness to get ALL of the Apple analysts to agree on the company at the same time.
That agreement has pushed the stock back to a coveted Zacks Rank #1 (Strong Buy).
It was last a Strong Buy stock in the third quarter of 2020 but you have to go all the way back to the third quarter of 2018 to find a time before that when the analysts were also as bullish.
Shares at Record Highs
You have a record quarter, shouldn't your stock see a record high?
Shares of Apple have soared in the last year, adding 74%.
It's no longer cheap, with a forward P/E of 30 and a P/S ratio of 7.9.
But revenue is expected to grow by 22.7% this fiscal year.
Is Apple a growth stock now?
Some of the other FAANG stocks qualify as growth stocks, including Netflix (NFLX - Free Report) and Amazon (AMZN - Free Report) .
With another quarter like this one, it might just qualify for that designation as well.
For investors who haven't yet bought the stock, it may be time to take another look at this technology giant.
[In full disclosure, the author of this article owns shares of Amazon in her personal portfolio.]
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>