Apple stock rises on strong earnings report
Strong sales of iPhone, Mac and iPad boost Apple's revenue and earnings per share
Apple's stock price rose by over 5% in after-hours trading after the company released its fiscal fourth-quarter earnings report.
Apple reported revenue of $90.1 billion for the quarter, up 8% from the same period last year. This was driven by strong sales of iPhones, Macs and iPads. The company sold 50.6 million iPhones during the quarter, up 1% from the same period last year. It also sold 9.1 million Macs, up 14% from the same period last year. And it sold 10.9 million iPads, up 29% from the same period last year.
Apple's earnings per share for the quarter were $1.29, up 15% from the same period last year. This was driven by the company's strong revenue growth and its continued cost controls.
Apple's earnings report was well-received by Wall Street analysts. Many analysts believe that the company is well-positioned to continue to grow in the future. Apple's stock price is currently trading at around $145 per share, up from its low of $122 per share in March of this year.
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