Apple Stock News
On November 7th, 2017, Apple shares hit an all-time intraday high and closed with a market capitalization above $900 billion for the first time. This is the first time a publicly traded US company reached this milestone.
Since Steve Jobs died in 2011, Apple’s market value has grown over 60%. As you can see in the chart bellow, Apple’s market capitalization under Tim Cook’s helm almost tripled in 5 years.
Behind this high rise is Apple’s recently released better than expected results on its quarterly earnings. The tech giant showed strong earnings with revenue reaching $52.6 billion, an increase of 12% from the same quarter of the previous year. Moreover, the company also said during earnings call that it is expecting to have a very profitable holiday season, with a revenue forecast set in between $84 billion to $87 billion for the upcoming quarter.
As Apple’s CEO stated: “We are happy to report a very strong finish to a great fiscal 2017, with record fourth quarter revenue, year-over-year growth for all our product categories, and our best quarter ever for Services”, and furthermore, “we’re looking forward to a great holiday season, and with the launch of iPhone X getting underway right now, we couldn’t be more excited as we begin to deliver our vision for the future with this stunning device.”
Apple is the first publicly traded company on the way to reach $1 trillion market capitalization.
For the latest Apple Stock News, AAPL closed at $176.24 per share on November 8th, 2017. It generated a profit of 0.82% from its previous close on November 7th, 2017, when it closed at $174.81 per share.
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