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Why Apple Stock hit an all-time high today



What happened

Promotions Apple (NASDAQ: AAPL) It rose 10.5% on Friday to a new high of $ 425.04, following the company’s expectations of a devastating third-quarter results.

So what

Despite many challenges related to the coronavirus, Apple’s revenue jumped 11% year-on-year to $ 59.7 billion. The profit growth of the technology giant was even more impressive. Its earnings per share rose 18% to $ 2.58. Wall Street expected revenue and EMU to be only $ 52.3 billion and $ 2.04.

Man holds a digital chart tilted up.

Apple shares hit a record high on Friday. Image source: Getty Images.

Profits were wide: Apple grew rapidly in its iPhone, Mac, iPad, laptop and services businesses.

“Apple’s record quarter of June was driven by double-digit product and service growth and growth in each of our geographic segments,” CEO Tim Cook said in a press release. “In indefinite times, this performance testifies to the important role our products play in the lives of our customers and to the relentless innovation of Apple.”

What’s now

Apple has also announced a “4 for 1” share split to “make the shares more accessible to a wider investor base.” August 24 At the end of the business, record shareholders will receive three additional shares for each Apple share they hold. Apple shares will be available for trading by splitting on Aug. 31.

Investors assessed the news as they assessed the rise in the share price on Friday.




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