Apple earnings not as bad as expected

The earnings season rolls on and this time it’s Apple’s turn. Their report exceeded expectations and drove the stocks up by 5.5% at the pre-markets before the official sessions began. Earlier in the year, the company has made revenue warnings, causing the markets to expect a far worse report, however, it stated that Apple has only lost 5% of its sales. Furthermore, the investors are positive about the profitability of Apple.

On the other hand, market analysts are expecting a further decline in sales, while Apple tries to drastically change the situation by lowering the price of their products in regions where the volatility of the currency rate caused a sales slump. The question is what impact will that have on profitability.

Alexander Kuptsikevich, the FxPro analyst