Apple Slips to Third… and No One Cares

Apple AAPL 179.45 +4.89 +2.80% reported $2.45 per share on revenue of $58.0 B vs estimates of $2.37 per share on revenue of $57.6 B.

Apple’s worldwide smartphone shipments were down 30.2 percent to 36.4 million iPhones from 52.2 million. This was enough to give up 2nd place to Huawei. First still belongs to Samsung with 23.1% market share. Huawei is right on their heals with 19.0% and Apple at 11.7%.

With that being said, Samsung’s Q1 earnings fell 13% year over year to about $45 B. So regardless of being the phone leader, the actual prices of the phones put Apple in the lead for revenue and with $11.6 B in profit vs Samsung’s $5.33 B, a pretty sizable lead there as well.

Advanced Micro Devices

AMD AMD 138.64 -7.86 -5.37% to the surprise of no one in this office, beat estimates, coming in at $0.06 per share on revenue of $1.3 B vs estimates of $0.05 per share on revenue of $1.3 B. Despite competitor Intel’s pretty ugly view of the future, AMD forecast the 3rd quarter revenue slightly up from average analyst estimates, $1.52 B vs $1.51 B.

A few Dr. Lisa Su, CEO quotes from the call…

“We delivered solid first quarter results with significant gross margin expansion as Ryzen and EPYC processor and datacenter GPU revenue more than doubled year-over-year.”

“We look forward to the upcoming launches of our next-generation 7nm PC, gaming and datacenter products which we expect to drive further market share gains and financial growth.”