BC Business
Apple earnings boost | BCBusinessAfter blowing earning expectations out of the water, Apple's soaring stock price then boosted Wednesday's world markets.
Despite all the investor anxiety building around Apple’s latest earnings report, the company exceeded expectations and posted gains strong enough to boost world markets. The latest mind-boggling earnings report and accompanying market boost just goes to show us that Apple is unstoppable. Investors took a bite out of Apple’s stock price in the last few weeks as some thought the company hit a price ceiling and cashed out (who’d have thought the stock price could stay above $600?).
Apple earnings boost | BCBusinessAfter blowing earning expectations out of the water, Apple’s soaring stock price then boosted Wednesday’s world markets.
The latest mind-boggling earnings report and accompanying market boost just goes to show us that Apple is unstoppable. Investors took a bite out of Apple’s stock price in the last few weeks as some thought the company hit a price ceiling and cashed out (who’d have thought the stock price could stay above $600?). But Wednesday’s earnings report certainly silenced any naysayers. The company’s stock surged by more than $50 (about 10 per cent) a share in reaction to news the company netted $11.6 billion last quarter. Apple attributes the profit boost to exceptional sales in the Asia-Pacific region, particularly China. But the surge didn’t just make Apple shareholders happy – the jump was enough to boost markets around the world, including our TSX and the Nasdaq in the U.S. When a single company’s success can help lift the Nasdaq 57 points, we all should be paying attention.