Apple Stock Soars on Earnings Beat, Buyback Announcement | #AAPL #Apple #Earnings #Buyback $AAPL
Apple Inc. (AAPL) stock soared on Tuesday after the company reported better-than-expected earnings and announced a $90 billion buyback plan.
The company reported earnings of $1.52 per share on revenue of $94.8 billion. Analysts were expecting earnings of $1.43 per share on revenue of $92.9 billion.
Apple also announced a $90 billion buyback plan, which is the largest buyback in the company's history.
The stock was up 4.3% in after-hours trading.
The earnings beat was driven by strong sales of the iPhone and Mac. iPhone revenue was $51.3 billion, up 1.5% from the same quarter last year. Mac revenue was $7.17 billion, up 8% from the same quarter last year.
The buyback announcement is a sign that Apple is confident in its future. The company has a lot of cash on hand, and it is using that cash to return value to shareholders.
The earnings beat and buyback announcement are positive signs for Apple. The company is still the leader in the smartphone market, and it is expanding into new markets, such as wearables and services. Apple is well-positioned to continue to grow in the years to come.
Apple is a strong company with a bright future. The earnings beat and buyback announcement are positive signs for the company. Apple is well-positioned to continue to grow in the years to come.
