The big story of the week ending Nov. 1st was Apple’s Q4 2019 earnings release. On Wed. Oct 30th Apple Inc. reported total Q4 revenue of $64 billion, which represents 2% growth year over year.
What’s impressive but not surprising is that Apple saw 18% year over year growth in its services division, which includes, iCloud, AppleCare Warranties, and iTunes. The company also saw 54% growth in their wearables division, which includes Apple Watch and AirPods.
On the downside is that Apple saw iPhone sales decline 9% year over year. I don’t see this as a significant concern.
Over the next year I expect Apple stock to rise significantly and if you don’t already own shares, now is the time to start building a position.
