LONDON, April 25, 2012 /PRNewswire/ --
In the following guide we show you how you can use the iPhone™ trading app from spread betting provider City Index to take a position on Apple's share price following their second quarter earnings announcement at the close of the US market last night [Tuesday 24 April 2012].
Apple Earnings: A Look Back at Q1
Apple announced record financial results for its fiscal 2012 first quarter on 24 January 2012. The tech bellwether posted a record quarterly revenue and net profit of $46.33 billion and $13.06 billion, respectively; with international sales accounting for 58% of the quarter's revenue.
In the 14 weeks leading up to 31 December 2011, the company sold 37.04 million iPhone devices and 15.43 million iPads™; representing a 128% and 111% year-on-year growth.
Commenting on the results, Apple CEO Tim Cook stated: "Apple's momentum is incredibly strong, and we have some amazing new products in the pipeline."
iPhone Trading App from City Index
The industry's first free iPhone trading app, City Trading™, was released in October 2009 by City Index; providing clients with full and secure access to their spread betting and CFD trading accounts direct from their iPhone device from wherever they are, whenever they want.
In 2009, less than 2% of City Index's total volume of trades were placed through a mobile device - however - today in 2012, close to 20% of the total volume of trades placed at City Index are made through a mobile device and approximately 85% of that is through the iPhone.
This rise in popularity could be due to Apple's rise in sales and City Index's ongoing improvements to its City Trading app.
iPhone Trading App Features
Having gone through multiple developments since its launch in 2009, updated features include the most powerful live charting packages available on the market and live financial news feeds from the Dow Jones Newswires.
Spread bettors using the City Trading app for iPhone can also:
- Check the latest prices and market movements
- Open and close positions
- Set stop and limit orders including if done and OCO (one cancels other)
- Create new or amend existing orders
- View pending, completed and cancelled orders
- Monitor positions using City Index's unique positions chart
- View and amend multiple Watch Lists
- Review trade and order history
- Be confident that all information and transactions are secure
Download the City Trading app for free from the App Store.
Spread bet Apple shares with City Index
Traders choosing to spread bet with City Index can benefit from paying no Capital Gains Tax (CGT) or Stamp Duty* at present in the UK on all profits made through any trades; including Apple shares.
With the ability to go both long and short on a trade, spread bettors have the potential to profit from a market's share price regardless of whether it is rising or falling.
It is important to remember however, that as a leveraged product; spread betting can result in losses greater than your initial deposit. Ensure you fully understand the risks.
*Spread betting and CFD trading are exempt from UK stamp duty. Spread betting is also exempt from UK Capital Gains Tax. However, tax laws are subject to change and depend on individual circumstances.
About City Index:
Today more and more individual traders are discovering the benefits of derivatives, and many of them are discovering them through a City Index trading platform.
As a group, we transact in excess of 1.5 million trades every month in over 50 countries. We provide access to a wide range of instruments including margined foreign exchange, CFDs and, in the UK, financial spread betting.
We constantly look to improve the performance of our platforms and expand our range of services. The result is our customers benefit from innovative trading tools with transparent pricing, competitive spreads, and a high standard of customer support. Visit http://www.cityindex.co.uk/ for details.
SOURCE City Index