Apple Q1 - Record Revenue & Profits

Apple is by far our most important holding. It's the most widely-held stock, and has the highest aggregate value across client portfolios (over $60 million). So, we await its quarterly earnings reports with great anticipation.

In the last five years, Apple's stock is up 430%, making us all rich. It's grown so much, and is already the world's largest and most profitable company, so one might wonder if it can continue to prosper off such a big base?

You bet it can. The results out last Thursday were the best ever, and the most ever, across all products and geographies. Apple's total revenue for the period rose 11%, year-over-year, to $124 billion. Profits expanded by 20% to an all-time record of $35 billion. Operating margins swelled to 34%, the highest in nearly a decade. As a result, Apple's share price rose by 7% on Friday.

CEO Tim Cook is a genius at supply-chain management, and the group has invested heavily in dedicated production facilities for the last two decades. Accordingly, they were less affected by component shortages than other tech groups.

By the way, Cook has been Apple's CEO since 2011. Over this span, Apple's market cap has jumped from $340 billion to $2.8 trillion.

The backbone of the business remains the iPhone, and high-end customers snapped up the new 13s with advanced memory configurations.

Sales of Apple Mac computers with new home-grown M1 chips surged 25% year over year to pass the $10 billion mark for the first time in the December quarter.

There are now 1.8 billion active devices on the Apple network. Of those, 795 million pay every month for subscription services (storage, music, TV, and others). That's a big business now too!

You literally cannot own too many Apple shares. Hold the ones that you have now, and add more when you can.