Apple's Shares Soar to Record High on Strong iPhone Sales

Apple's Shares Soar to Record High on Strong iPhone Sales”

In light of the giant's strong performance, Apple stock gained a 6% increase during after-hours trading.

Shares of Apple Inc. The stock's 50 day moving average is $147.04 and its 200 day moving average is $142.60.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, August 1st.

This marks a significant improvement in growth compared with same quarter in the previous year, when revenue declined 15% YoY, and is likely evidence of stabilizing iPhone sales. "I would guess at the very least Apple will have the successors to the current phones on sale in the usual timeframe and in the usual volumes, while my hunch is that the new higher-end model will also go on sale at the same time but be even more heavily supply-constrained than new iPhones usually are". EPS (earnings per share) came in at $1.67 against analysts' expectation of $1.57. This repurchase authorization authorizes the iPhone maker to purchase up to 6.5% of its shares through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued. If you are reading this report on another publication, it was illegally stolen and republished in violation of U.S. and worldwide trademark & copyright law. To achieve this, the company is expanding existing platforms such as its app ecosystem, creating the iMessage App Store for mini apps launched within the iMessage interface, as well as pushing further into areas like healthcare through its ancillary products, such as the Apple Watch.

More news: Neymar signs 5-year PSG deal after paying own €222m release clause

In other news, Director Arthur D. Levinson sold 35,000 shares of the stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $154.70, for a total value of $735,907.90. (NASDAQ:AAPL) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). For Mac, Apple announced 4.2 million computers sold between April and June 2017. The stock was sold at an average price of $142.86, for a total transaction of $1,707,034.14. Also, insider Daniel J. Riccio sold 11,949 shares of the business's stock in a transaction dated Thursday, July 6th. The disclosure for this sale can be found here. 45,154,726 shares of the company's stock traded hands. Company insiders own 0.08% of the company's stock.

Institutional investors have recently added to or reduced their stakes in the company. Empirical Finance LLC bought a new position in Apple during the fourth quarter worth $465,000. Dupont Capital Management Corp raised its position in Apple by 20.5% in the second quarter. The fund owned 16,295 shares of the iPhone maker's stock after buying an additional 390 shares during the period.

Haverford Trust Co. lowered its position in Apple Inc. American Beacon Advisors Inc. acquired a new position in shares of Apple during the first quarter worth approximately $117,000.

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