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Apple will announce its first-quarter results on 26 January, and traders are anticipating revenue of $76.65 billion and earnings per share (EPS) of $3.23. That compares with last year’s fourth-quarter revenue of $51.5 billion and EPS of $1.96 respectively. The company will reveal its full-year figures in October, and investors are expecting revenue of $237 billion and EPS of $9.55, and these forecasts represent a 1.7% fall in revenue and a 3.5% rise in EPS.
iPhone sales continue to rise, which is fueling higher revenues and profits. The company’s expansion in China is going well as sales from the country nearly doubled in the past year, and new store openings are still going ahead despite the cooling of the Chinese economy. The CEO Tim Cook seems to be unfazed by the economic developments in China. Apple is winning over former Android customers, and that is also playing a big role in its success. A report from Nikkei spooked Apple investors, as it stated iPhone 6s and iPhone 6s Plus production levels could be cut by 30%, and the stock hasn’t recovered since the report was released in early January.