CEO库克对新发布的iPhone17系列充满信心，认为其市场反响"超乎预期"，并预计本季度iPhone销售将 实现两位数增长。 苹果公司三季度营收同比增长7.9%，达到1024.7亿美元，超出了分析师的预期，并创下了同期历史最佳 纪录。服务业务继续保持强劲势头，收入同比增长15.1%，达到287.5亿美元，成为业绩增长的重要支 柱。 iPhone销售额同比增长6.1%，增速较上一季度大幅放缓。大中华区销售收入同比下滑3.6%，未能达到分 析师的增长预期。苹果预计四季度营收将同比增长10%—12%。 ...

NO.1苹果公司第四财季营收1024.66亿美元，同比增长8% 苹果公司今天发布了该公司的2025财年第四财季及全年财报。报告显示，苹果公司第四财季总净营收为 1024.66亿美元，与上年同期的949.30亿美元相比增长8%；净利润为274.66亿美元，与上年同期的147.36 亿美元相比增长86%。苹果美股盘后涨超5%，此前一度跌超3%。 点评：苹果公司第四财季营收和净利润均实现大幅增长，显示出其增长势能强劲。 ｜2025年10月31日 星期五｜ 10月30日Meta跌超11%，市值一夜蒸发2140亿美元（约合人民币15216亿元）。为三年以来最大单日跌 幅，创6月份以来新低。公司第三财季净利润为27亿美元，远低于分析师预期，公司计划通过债券发行 筹集至少250亿美元。此前一天，该公司首席执行官马克·扎克伯格提醒称，Meta将在未来一年更大力度 投入人工智能领域。 点评：Meta尽管营收有所增长，但在人工智能等领域的巨额投入和不确定的回报，引发了投资者的担 忧和恐慌性抛售。 NO.4SpaceX迫于NASA压力提出加速登月方案 据外媒，美国航空航天局就火箭研发延迟提出批评之际，马斯克旗下SpaceX提出了一 ...

Thursday, October 30, 2025Today was a mostly restful day on Wall Street, with major market indexes snoozing away a chance at new closing highs, which they had set in the early part of the week. We’re still up from early Monday, except for the small-cap Russell 2000, which has taken it on the chin over the past two sessions. The Dow came in -109 points lower at the bell, -0.23% (but was roughly +0.75% during intraday highs), while the S&P 500 and Nasdaq were down a more significant -0.99% and -1.57%, respect ...

Core Insights - Apple is adopting a hybrid approach to AI, utilizing both its own chips and external computing capacity, contrasting with competitors who are heavily investing in AI infrastructure [1][2][4] - The company reported a significant increase in capital expenditures, up 35% year-over-year to $12.72 billion, with expectations to rise further to $14.3 billion [4][5] - Despite a different strategy in AI, Apple continues to see strong consumer demand for its products, particularly the iPhone 17, with projected sales growth of 10% to 12% in the upcoming quarter [7][8] Capital Expenditures - Apple spent $12.72 billion on capital expenditures in fiscal 2025, which is a 35% increase from the previous year [4][5] - Analysts predict that Apple's capital expenditures will increase to $14.3 billion this year [5] - The spending is primarily associated with building out the Private Cloud Compute environment in Apple's data centers [5] AI Strategy - Apple is focusing on its own chips for AI services, rather than relying on Nvidia or AMD [2] - The company has launched Apple Intelligence, a suite of AI tools, although it has received mixed reviews and some features have been delayed [6] - Apple's hybrid model allows some AI-related spending to be classified as operating expenses, contributing to an 11% rise in operating expenses to $15.91 billion [9] Market Response - Consumer response to the iPhone 17 models has been exceptionally positive, with CEO Tim Cook noting it was "off the chart" [7] - Apple executives believe that AI features will increasingly influence smartphone purchasing decisions [8]

Core Insights - The article emphasizes the importance of combining top-down macro analysis with bottom-up stock selection to identify mispriced investment opportunities in the market [1]. Group 1: Investment Strategy - The focus is on earnings, technological disruption, policy shifts, and capital flows as key factors for identifying investment opportunities [1]. - The approach includes managing multi-asset strategies and equity portfolios, indicating a diversified investment methodology [1]. Group 2: Market Analysis - The article highlights the significance of real-time positioning using tools like Bloomberg and data models to enhance investment decisions [1]. - It suggests that the current market environment is filled with noise, and the ability to deliver clear signals is crucial for successful investing [1].

Portfolio manager, fundamental equity research, macro and geopolitical strategy.Over 10 years across global markets, managing multi-asset strategies and equity portfolios at a European asset manager.I combine top-down macro, bottom-up stock selection and real-time positioning (Bloomberg, models, data).I focus on earnings, tech disruption, policy shifts and capital flows — to identify mispriced opportunities before the market.On Seeking Alpha I share high-conviction ideas, contrarian views and deep breakdown ...

Apple (AAPL) came out with quarterly earnings of $1.85 per share, beating the Zacks Consensus Estimate of $1.73 per share. This compares to earnings of $1.64 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +6.94%. A quarter ago, it was expected that this maker of iPhones, iPads and other products would post earnings of $1.42 per share when it actually produced earnings of $1.57, delivering a surprise of +10.56%.Over the last f ...

Core Insights - Apple shares increased by over 3% in extended trading, reaching new highs after reporting earnings that surpassed analysts' expectations and a positive outlook for the holiday season [1][4] Financial Performance - Apple reported fiscal fourth-quarter earnings per share of $1.85, with revenue rising 8% year-over-year to $102.47 billion, both exceeding analysts' estimates [2][6] - Services revenue reached a record high of $28.75 billion, contributing significantly to overall revenue growth [2][6] Product Sales - iPhone sales rose 6% to $49.03 billion in the fourth quarter, driven by the launch of the iPhone 17 lineup in September, marking a record for September quarter revenue from iPhones [3][6] - CEO Tim Cook indicated that the strong iPhone sales could lead to a record holiday season for the company [3][6] Future Outlook - Tim Cook projected that December-quarter revenue would be the best ever for Apple, anticipating a growth rate of 10% to 12% [4][6] - Following recent gains, Apple's market capitalization surpassed $4 trillion, making it the second-most-valuable company globally, behind Nvidia [4]

Core Viewpoint - Apple CEO Tim Cook provided a positive forecast for holiday quarter iPhone sales and overall revenue, surpassing Wall Street expectations, driven by strong demand for iPhone 17 models despite ongoing supply constraints [1][4]. Sales Performance - In the fiscal fourth quarter, Apple missed iPhone sales forecasts due to supply constraints and shipping delays to China, but overall sales reached $102.47 billion, exceeding analyst expectations of $102.26 billion [2][12]. - iPhone sales for the quarter were $49.03 billion, below expectations of $50.19 billion, while profit was $1.85 per share, beating forecasts of $1.77 per share [12][8]. Future Outlook - Cook anticipates double-digit growth in iPhone sales and overall revenue growth of 10-12% year over year for the holiday quarter, which exceeds analyst estimates of 9.8% growth in iPhone sales and 6.6% growth in total sales [4][15]. - The company is addressing supply constraints for several iPhone 17 models and is optimistic about returning to growth in China, despite recent sales contractions [5][6]. Product Insights - The new iPhone Air model faced delays in China, impacting sales, but Cook expressed enthusiasm about the product's reception and potential [5][6]. - Sales in the services segment reached $28.75 billion, surpassing estimates, while Mac and iPad sales also exceeded expectations [14]. Market Context - Apple's share price rose 3.8% in after-hours trading following the positive forecast, although its share gains have lagged behind competitors in the tech sector this year [2][7]. - The company continues to face challenges related to US-China trade tensions and the rollout of AI features, but these factors have had a lesser impact than anticipated [3][10].

Core Viewpoint - Fiserv's shares experienced a significant decline of 44% on October 29 and an additional 6.7% on October 30 following a reduction in the company's full-year earnings outlook and the announcement of strategic changes [1][2] Financial Impact - The drop in share price resulted in a loss of $30 billion in Fiserv's market capitalization [2] - Fiserv's organic growth fell to 1% in the third quarter, with margins also declining; sales in the Financial Solutions segment decreased by 3% [4] Earnings Outlook - The company's overall organic revenue growth forecast was revised down to 3.5% to 4.5%, a significant reduction from the previous estimate of around 10% [4] - Within the Financial Solutions unit, digital payments revenues decreased by 5%, and banking-related revenues fell by 7% [4] Strategic Changes - In response to customer complaints regarding fees for the Clover point-of-sale system, Fiserv announced it would reverse recent pricing changes and implement a new technology strategy [3][4] - Management changes were also announced, with Takis Georgakopoulos and Dhivya Suryadevara appointed as co-presidents effective December 1, and Paul Todd named as the incoming chief financial officer [5] Leadership Commentary - CEO Mike Lyons expressed that the recent developments were unexpected and highlighted the challenges faced by the company, indicating that the actions taken are part of a necessary reset and revitalization effort [3][6]