Apple’s recent fiscal second-quarter earnings report caused quite a stir in the market, with shares soaring following the announcement. Despite a 10% decline in iPhone sales compared to the previous year, Apple’s record $110 billion share buyback quickly overshadowed any negative news. Additionally, the Services segment reported record revenues during the quarter.
The after-hours trading on Thursday saw Apple’s shares skyrocket, and the momentum continued into Friday’s trading session. The stock hit a high of $187 before closing at $183.36, marking a gain of $10.33 or 5.97%. This surge added a whopping $160.21 billion to Apple’s market capitalization, bringing the company’s valuation to an impressive $2.83 trillion with 15,509,763,000 shares outstanding.
With Apple inching closer to a $3 trillion valuation, investors are reminiscing about the last time the stock reached such heights back in December. While the Vision Pro release may not have been as successful as anticipated, Apple remains optimistic about its future ventures.
Despite fluctuations in stock prices over the year, long-term investors have seen substantial returns on their investments in Apple. The tech giant’s stock has grown by over 140,000% since its IPO in December 1980, creating numerous millionaires along the way.
Looking ahead, analysts are eager to see what Apple’s next big innovation will be after the iPhone era. While products like AR glasses are speculated to be potential successors to the iconic device, only time will tell what groundbreaking technology Apple has up its sleeve next.
