Account
New to ADSS? Open an
account now to get started.
Already have an account?
Add funds to your ADSS account
Account
New to ADSS? Open an
account now to get started.
Add funds to your ADSS account
What’s happening: Shares of Apple edged lower on Friday, after the company released its fiscal fourth-quarter results.
What happened: The iPhone maker’s sales climbed to a record high in the latest quarter.
Apple said that Warren Buffett’s Berkshire Hathaway had once again slashed its holdings in the company.
How were the results: The world’s most-valuable company reported higher-than-expected sales and earnings for the seventh straight quarter.
Why it matters: Apple’s fourth quarter ended September 28 reflects only a few days of sales of the iPhone 16 series, which hit the market on September 20.
The company’s products revenues rose to $69.96 billion in the fiscal fourth quarter, from $67.18 billion in the year-ago period, while services revenues surged to $24.97 billion, from $22.31 billion.
iPhone sales climbed to $46.22 billion, from $43.8 billion in the year-ago quarter, while Mac sales edged higher to $7.74 billion, from $7.61 billion. iPad sales climbed to $6.95 billion, versus $6.44 billion in the previous year.
Sales in the Americas came in at $41.66 billion, while Europe sales totalled $24.92 billion. Sales in Greater China came in mostly flat at $15.03 billion and Japan sales were $5.93 billion, while sales in the rest of the Asia Pacific region totalled $7.38 billion.
The company released its first set of features for Apple Intelligence last week, which “sets a new standard for privacy in AI and supercharges our lineup heading into the holiday season,” CEO Tim Cook said.
Berkshire Hathaway’s stake in Apple was valued at $69.9 billion at the end of the latest quarter, down significantly from $84.2 billion in the previous quarter.
The company’s board declared a cash dividend of 25 cents per share for the quarter.
How shares responded: Apple’s shares declined by 1.3% to close at $222.91 on Friday, following the release of quarterly results. The stock has climbed around 20% year to date.
What to watch: Investors will continue monitoring sales of the new iPhone 16 series. Markets will also focus on the performance of Apple’s services segment, which is becoming a more crucial driver of growth.
Investors will also closely watch the company’s ability to grow its market share in the Asia Pacific region as per plans.
Context: The GBP/USD forex pair gained this morning, as investors assessed UK’s manufacturing data.
Details: Data released on Friday showed that the S&P Global flash UK manufacturing PMI had declined to 49.9 in October, from 51.5 in the previous month. This came in below the preliminary reading of 50.3 and missing market estimates of 51.4. The latest reading also signalled the first contraction in the region’s factory activity since April.
The Nationwide House Price Index rose by 2.4% year-over-year in October, compared to the 3.2% gain recorded in September. The figure also missed market expectations of a 2.8% rise.
Weakness in the US dollar lent some support to the GBP/USD forex pair. The US dollar index, which measures the greenback’s performance versus a basket of major peers, fell 0.5% to 103.77 this morning.
The GBP/USD forex pair rose 0.25% to 1.2977, while the EUR/GBP gained 0.13% to 0.8392 this morning.
London’s FTSE 100 had gained 0.83% to close at 8,177.15 on Friday, after recording losses for the three consecutive days, which had sent the index to the weakest level in three months.
What to watch: With no major economic reports due from the UK today, investors await the release of services and composite PMI on Tuesday. The S&P Global UK Services PMI is expected to decline to 51.8 in October, from 52.4 in the previous month. Analysts expect the country’s composite PMI to decline to 51.7 in October, from 52.6 in September.
Other Markets: US trading indices closed higher on Friday, with the Dow Jones index, S&P 500 and Nasdaq 100 up by 0.69%, 0.41% and 0.72%, respectively.
UN Secretary General António Guterres said he is “very concerned” about reports of North Korea sending troops to Russia. The news sent the RUB/USD pair higher in forex trading this morning.
Australia received another “AAA” sovereign credit rating from Fitch Ratings, lending support to the AUD/USD forex pair.
Peru’s annual inflation rate rose to 2% in October, from 1.8% in the previous month. However, the recent reading remaining within the central bank’s target range of 1%-3% sent the PEN/USD pair higher in forex trading this morning.
Philippines’ S&P Global manufacturing PMI fell to 52.9 in October, from 53.7 in September. The region’s factory activity remaining in the expansion zone lent support to the PHP/USD forex pair.
Colombia’s Davivienda manufacturing PMI rose to 52.3 in October, from 48.1 in the previous month, which sent the COP/USD pair slightly higher in forex trading this morning.
Turkey’s consumer price index, balance of trade, car production, total vehicle sales, exports, foreign exchange reserves and producer price inflation, France’s government budget value, new passenger car registrations and manufacturing PMI, Brazil’s IPC-Fipe inflation and Central Bank of Brazil focus market readout, Spain’s manufacturing PMI, Italy’s manufacturing PMI and new passenger car registrations, Germany’s manufacturing PMI and new passenger car registrations, Eurozone’s manufacturing PMI, Mexico’s gross fixed investment, as well as US total vehicle sales.
ADSS
8th floor, CI Tower
Corniche Road
PO Box 93894
Abu Dhabi
United Arab Emirates
Trading Services
ts@adss.com
+971 2 657 2414
Investing in CFDs involves a high degree of risk that you will lose your money due to the use of leverage, particularly in fast moving markets, where a relatively small movement in the price can lead to a proportionately larger movement in the value of your investment. This can result in loses that exceed the funds in your account. You should consider whether you understand how CFDs work and you should seek independent advice if necessary.
ADS Securities LLC – S.P.C (“ADSS”) is authorised and regulated by the Securities and Commodities Authority (“SCA”) in the United Arab Emirates under First Category: Dealing in Securities and Fifth category: Arrangement and advice (Introduction). ADSS is a Limited Liability Company – Sole Proprietorship Company incorporated under United Arab Emirates law. The company is registered with the Department of Economic Development of Abu Dhabi (No. 1190047) and has its principal place of business at 8th Floor, CI Tower, Corniche Road, P.O. Box 93894, Abu Dhabi, United Arab Emirates.
The information presented is not directed at residents of any particular country outside the United Arab Emirates and is not intended for distribution to, or use by, any person in any country where the distribution or use is contrary to local law or regulation.
ADSS is an execution only service provider and does not provide advice. ADSS may publish general market commentary from time to time. Where it does, the material published does not constitute advice, or a solicitation, or a recommendation to a transaction in any financial instrument. ADSS accepts no responsibility for any use of the content presented and any consequences of that use. No representation or warranty is given as to the completeness of this information. Anyone acting on the information provided does so at their own risk.
