Apple shares are driving technology shares higher today in the wake of a stellar earnings report on both revenue and net income. Apple announced results for its fiscal 2018 third quarter, showing quarterly revenue up 17% from the year-ago quarter to $53.3 billion, and quarterly earnings per diluted share up 40 percent to $2.34.
Strong execution across a swathe of geographies drove the results. International sales accounted for 60% of Apple's quarterly revenue. These results highlight how diversified and how well run Apple is. And we can expect more of the same going forward, with Apple guiding to revenue between $60 billion and $62 billion for the fiscal fourth quarter.
Nevertheless, of the FAANG stocks, I continue to see Amazon and Alphabet/Google as better positioned for future earning...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.