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Apple FY2Q16 results, guidance, and implications

​Apple reported March-quarter revenue of US$50.6 bn (-33% QoQ; -13% YoY), and EPS of US$1.9 (-42% QoQ; -18% YoY), slightly below consensus of US$2.0. Regionally, Apple sales to Greater China fell 26% YoY (Mainland China decreased by 11%), while India was strongest at +56% YoY. It shipped 51.2 mn units of iPhone, higher than consensus of 50 mn. Aside from iPhone, sales of iPad (10.3 mn) were better than expected, while Mac sales (4 mn) were below expectations.

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Yuanta
Yuanta

​Yuanta is a Taiwan-headquartered brokerage with a growing presence in Asia, especially across Greater China. Our team of 140+ provides cutting-edge analysis on key sectors, spread across offices in Taiwan, Hong Kong, Shanghai (A-Share), Seoul and Jakarta. With an ever-expanding coverage universe of 400+ companies, we provide in depth analysis with unique local color to investors. Consistently being voted the Best Investment Consulting Firm in Taiwan in the AsiaMoney broker poll is evidence of our strength. We target providing an extensive range of research, from small, to mid-sized, to large cap. We bring you the big, well-covered names, as well as going off the beaten track to research the less-familiar companies.

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