Exceptional Value in Apple
The market isn't giving Apple credit for growth to come, says Morningstar’s Brian Colello.
Brian Colello: Apple (AAPL) reported solid fourth-quarter results and a very-good-but-not-exceptional forecast for the holiday season this upcoming December. Fourth-quarter revenue and EPS were ahead of expectations.
IPhone unit sales were solid, but the pricing on iPhones was stellar, quite frankly. People continue to buy the higher-storage iPhones and trade up to the "Plus"-size models, and that's been a positive for pricing and for revenue. IPad sales were a little bit weak, and Mac sales were a little bit strong--those were the trade-offs. We're continuing to see Mac still gaining share in the PC space.
Brian Colello does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.