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CNBC's "Fast Money"
Apple Reports Results… And Market Impact From The Fed’s Rate-Cutting Pause 1/30/25
Jan 30, 2025
Gene Munster, Managing Partner at Deepwater Asset Management, shares his insights on Apple’s quarterly results, highlighting unexpected declines in iPhone sales and challenges in China due to local competition. He delves into market reactions following the Fed’s rate-cutting pause, discussing implications for broader tech stocks. Munster also emphasizes caution amid geopolitical tensions and tariffs affecting Apple's operations, while providing a hopeful outlook on the company's services revenue and growth potential beyond China.
43:48
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Quick takeaways
- Apple's mixed fiscal results highlighted strong earnings but troubling iPhone sales, particularly a significant revenue drop in China due to competition.
- The podcast discussed the impact of the Fed's rate-cutting pause, suggesting potential positive market movements despite existing uncertainties in tech valuations.
Deep dives
Apple's Fiscal First Quarter Performance
Apple's fiscal first quarter results revealed mixed outcomes, as the company exceeded expectations for both earnings per share and overall revenue, yet struggled significantly in iPhone sales. The company reported earnings per share of $2.40, beating expectations by five cents, and total revenues of $124.3 billion, slightly above analyst projections. However, iPhone sales missed the mark with reported revenue of $69.14 billion against a forecast of $71 billion, reflecting a decline in year-over-year sales. Particularly troubling was the 11% drop in revenue from China, raising concerns over market share losses amid intensified competition from domestic brands and issues related to regulatory approvals for Apple intelligence technology in the region.
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Discover
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