Apple concept stocks fell broadly in the morning session. As of the time of writing, Q TECH fell 4.31% to HKD 4.88; SUNNY OPTICAL fell 2.47% to HKD 49.4; BYD ELECTRONIC fell 1.64% to HKD 32.95; COWELL fell 1.24% to HKD 23.8. In terms of news, Apple released its financial results for the fourth fiscal quarter of fiscal year 2024 (ending September 28, 2024). According to the financial report, Apple's revenue for the quarter was USD 94.93 billion, a year-on-year increase of 6%; net profit was USD 14.736 billion, a year-on-year decrease of 35.81%, mainly due to a one-time tax expense of USD 10.2 billion resulting from a European Union ruling earlier this year. In the fourth fiscal quarter, Apple's iPhone business performed steadily, with revenue of USD 46.222 billion, a year-on-year increase of 5.52%. However, Apple's Greater China business faced pressure, achieving revenue of USD 15.033 billion for the quarter, compared to USD 15.084 billion in the same period last year, with analysts expecting USD 15.8 billion. Apple expects revenue growth in the first fiscal quarter (fourth quarter of 2024) to be in the low single digits to mid-single digits
According to Zhitong Finance APP, Apple concept stocks fell broadly in early trading. As of the time of publication, Q TECH (01478) fell 4.31% to HKD 4.88; SUNNY OPTICAL (02382) fell 2.47% to HKD 49.4; BYD ELECTRONIC (00285) fell 1.64% to HKD 32.95; COWELL (01415) fell 1.24% to HKD 23.8.
In terms of news, Apple released its financial performance for the fourth quarter of fiscal year 2024 (ending September 28, 2024). The financial report shows that Apple's revenue for the quarter was USD 94.93 billion, a year-on-year increase of 6%; net profit was USD 14.736 billion, a year-on-year decrease of 35.81%, mainly due to a one-time tax expense of USD 10.2 billion resulting from a European Union ruling earlier this year.
In the fourth quarter, Apple's iPhone business performed steadily overall, with revenue of USD 46.222 billion, a year-on-year increase of 5.52%. However, Apple's Greater China business faced pressure, achieving revenue of USD 15.033 billion in the quarter, compared to USD 15.084 billion in the same period last year, with analysts expecting USD 15.8 billion. Apple expects revenue growth in the first quarter (fourth quarter of 2024) to be in the low single digits to mid-single digits