What 3 months can buy you... A Lyft — the company, not the ride. Apple took home over $11B in profit last quarter, enough to buy Lyft and still have $2B left over for lunch. Despite having its stores closed and its operations slowed during the pandemic, the trillion-dollar fruit managed to post its best fiscal 3rd quarter (2nd calendar quarter) ever:
Now slice up the Apple... Apple also announced it's going to do a 4-for-1 stock split at the end of August. Investors who own 1 Apple share will suddenly find themselves with 4 (example: if you own 1 share trading at $400, you'd soon have 4 $100 shares).
The bigger the profit puppy, the slower it grows... iPhone is a fully grown St. Bernard. It's undoubtedly Apple's main profit puppy, making up almost half of its sales. But iPhone sales grew less than 2%, even with the introduction of the cheaper $399 SE. Meanwhile, Pomeranian pups grew in the double-digits: iPad sales were up 31% and Mac sales jumped 21%. The WFH shift was like gourmet dog food for those smaller profit puppies' growth spurts.