Apple

Apple’s Q2 2023 earnings report showed a quarterly revenue of $94.8 billion, down 3% y/y, and earnings per diluted share of $1.52, unchanged y/y.
Despite the macroeconomic challenges, the company reported a record in Services and a March quarter record for iPhone.
While Apple’s individual product lines did well, the Mac and iPad businesses declined more than expected. Apple’s wearables division dropped by 1%, but its Services business grew by 5.5% y/y.
Apple’s China regional business reported $17.81 billion in sales, down from last year’s $18.34 billion, but the company was optimistic about it’s prospects in India.
Apple generated strong operating cash flow of $28.6 billion and returned over $23 billion to shareholders during the quarter. Apple’s board of directors also authorized an additional $90 billion for share repurchases.
The quarterly dividend was raised for the eleventh year in a row by 4% to $0.24 per share. The dividend will be paid on May 18, 2023, to shareholders of record as of May 15, 2023.
Data from the Motley Fool suggests investing legend Warren Buffet owns a stake in Apple which represents around 45% of Berkshire Hathaway’s stock portfolio, and about 5.6% of all outstanding Apple shares. We are holders of Berkshire Hathaway shares in global managed portfolios and the Cratos BCI Worldwide Equity FundBy Lee Kern