Articles Tagged: china

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Apple After Q4: From an iPhone Beat to Durable Growth — Can Vision, AI‑Powered Services and Buybacks Carry the Next Leg?

Apple capped fiscal 2025 with an earnings print that re‑anchored the bull case on three pillars: a stronger‑than‑expected iPhone cycle, record‑high Services growth at premium margins, and disciplined capital returns. The company beat on both revenue and EPS for its September quarter and, crucially, telegraphed a best‑ever December period with double‑digit year‑over‑year growth. Management’s tone was confident, citing off‑the‑charts reception for iPhone 17, improving store traffic and a broadening Services flywheel. Investors now face the central question for 2026: Can the combination of Vision‑led platform extensions, AI‑driven engagement and a well‑funded buyback program carry Apple through tariff headwinds, competitive pressures in China and an AI narrative increasingly defined by hyperscalers? With Apple briefly joining the $4 trillion market‑cap club and a valuation premium again in focus, the next leg depends on the durability of high‑margin Services growth, the sustainability of the iPhone 17 cycle, and execution on Apple Intelligence and Siri.

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Estée Lauder’s FY2025: Losses Deepen as Turnaround Takes Hold—Slowly

Estée Lauder Companies reported fiscal 2025 results showing another tough year marked by falling sales and a wider loss, even as management argued its multi-year turnaround is gaining traction. Full-year net sales fell roughly 8% versus fiscal 2024 while the company posted a full-year loss—paired with uneven quarterly momentum and pronounced weakness in skincare and makeup. Crucially, management warned that recently announced tariffs could trim margins by about $100 million over the coming year, adding another headwind to profitability, according to Business of Fashion’s reporting on the company’s Wednesday release. Markets are trading in a more constructive macro backdrop. The S&P 500 ETF (SPY) is trading near $638, while 10-year Treasuries hover around 4.29% and the effective federal funds rate sits near 4.33%, reflecting this year’s easing cycle, according to U.S. Treasury and FRED data. Unemployment remains contained at 4.2% and headline CPI is running near a 2.5% year-over-year pace based on FRED CPI index calculations, providing breathing room for consumers and rate-sensitive equities alike. Against this setting, we analyze Estée Lauder’s print in five dimensions: market context, operational drivers, policy implications, cross-asset impact, and forward outlook.

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