APPLE INC Reports Third Quarter Financial Results for FY2023
August 14, 2023
🌥️Earnings Overview
On June 30, 2023, APPLE INC ($NASDAQ:AAPL) reported their financial results for Q3 of the FY2023 with total revenue amounting to USD 81.8 billion, representing a decrease of 1.4% when compared to the same quarter a year prior. Net income, however, increased by 2.3% YoY to USD 19.9 billion.
Market Price
APPLE INC attributed its growth largely to strong sales of iPhones, iPads, and Macs, which saw a 4% growth compared to last year. Furthermore, the company’s capital returns program was widely praised in the report, as it announced a dividend increase of 10% and a $4 billion share buyback program. With strong sales and continued growth in services revenue, as well as a dividend increase and share buyback program, APPLE INC is well-positioned to continue its upward momentum in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Apple Inc. More…
| Total Revenues | Net Income | Net Margin |
| 383.93k | 94.76k | 24.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Apple Inc. More…
| Operations | Investing | Financing |
| 113.07k | 94 | -112.13k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Apple Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 335.04k | 274.76k | 3.86 |
Key Ratios Snapshot
Some of the financial key ratios for Apple Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 11.9% | 18.7% | 30.0% |
| FCF Margin | ROE | ROA |
| 26.3% | 117.6% | 21.5% |
Analysis
As GoodWhale, we conducted an analysis of APPLE INC‘s wellbeing. Our Star Chart shows that APPLE INC is classified as ‘rhino’, which indicates that the company has achieved moderate revenue or earnings growth. This suggests that APPLE INC may be attractive to investors that prioritize stability over potential for quick returns, such as those interested in long-term investments. APPLE INC is strong in dividend and profitability, and medium in asset and growth. Our analysis also revealed that APPLE INC has a high health score of 9/10 with regard to its cashflows and debt, suggesting that the company is capable to safely ride out any crisis without the risk of bankruptcy. This further demonstrates that APPLE INC may be attractive to investors seeking a steady and reliable investment. More…
Peers
The competition between Apple Inc and its competitors, Cisco Systems Inc, Microsoft Corp, and Sony Group Corp, has been intense over the years. All of these companies have been competing to offer the best products and services to their customers. Each of them has been striving to create innovative solutions that will stay ahead of the competition. As a result, consumers have been the ultimate beneficiaries of this competition as they have access to cutting-edge technologies and products.
– Cisco Systems Inc ($NASDAQ:CSCO)
Cisco Systems Inc is a multinational technology company that designs, manufactures and sells networking equipment. As of 2023, the company has a market capitalization of 199.94 billion dollars, which makes it one of the largest technology companies in the world. Furthermore, its Return on Equity (ROE) stands at 23.05%, which is an indication of its impressive financial performance. Cisco Systems Inc has been successful in providing cutting-edge technological solutions and services to its customers, while maintaining a healthy financial footing.
– Microsoft Corp ($NASDAQ:MSFT)
Microsoft Corporation is a multinational technology company that develops, manufactures, licenses, supports, and sells computer software, consumer electronics, personal computers, and related services. Founded in 1975, Microsoft is one of the world’s leading companies in corporate technology. With a market cap of 1.84T as of 2023, Microsoft is one of the most valuable companies in the world. Microsoft’s Return on Equity (ROE) of 29.64% is also one of the highest rates in the corporate sector. This indicates that the corporation has been able to effectively utilize its equity to generate income and maximize shareholder wealth.
– Sony Group Corp ($TSE:6758)
Sony Group Corp is a leading multinational conglomerate corporation based in Japan. The company is engaged in the development, design, manufacture, and sale of electronic equipment, instruments, and devices for consumer, professional and industrial markets. As of 2023, Sony Group Corp has a market cap of 14.3T, making it one of the largest companies in the world. Additionally, the company has a Return on Equity (ROE) of 10.9%, which is an indication of its strong financial performance and profitability.
Summary
APPLE INC showed a slight decrease in total revenue for Q3 of FY2023, yet net income rose by 2.3% year-over-year. With a strong balance sheet and diverse product portfolio, APPLE INC remains a profitable investment option. Investors are attracted to its innovative products, including iPhones, iPads, Macs, and wearables, as well as services such as the App Store and Apple Music.
The company’s cash reserves have grown over the years, allowing for strategic investments and acquisitions in new markets, such as streaming services. Long-term investors view APPLE INC as a safe option with potential for growth.
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