If there’s ever a time that Apple stock deserves to hit new all-time highs, it’s now.
In January, the company reported a robust earnings report, beating earnings and revenue. Sales of $111.4 billion beat expectations by $8 billion. Despite the record report, Apple stock slumped on the results, ultimately giving up its recent breakout over $138.
Fast forward three months and we have an even more impressive result.
Revenue of $89.6 billion beat analysts’ expectations by more than $12 billion. What!? Earnings of $1.40 per share came in more than 40% ahead of consensus estimates. Even the highest expectations on the Street — calling for $1.09 in EPS and $83.2 billion in sales — was an easy beat.