Arab Today, arab today apple shares soar after blockbuster earnings
Last Updated : GMT 10:08:22
Arab Today, arab today
Arab Today, arab today

Apple shares soar after blockbuster earnings

Arab Today, arab today

Arab Today, arab today Apple shares soar after blockbuster earnings

New York - AFP

Apple shares soared on Wednesday following blockbuster quarterly earnings and the California gadget-maker briefly surged past ExxonMobil to become the largest US company in terms of market value. Apple shares gained 6.24 percent to $446.45 on Wall Street while ExxonMobil shares were up 0.02 percent at $86.38. Apple\'s market capitalization -- the number of shares outstanding multiplied by the stock price -- was higher than the oil giant\'s for most of the trading day, but ExxonMobil had moved back in front by the closing bell. The maker of the iPhone, iPad, iPod and Macintosh computer finished the day with a market cap of around $416 billion to ExxonMobil\'s $418 billion. Apple first surpassed ExxonMobil in market value in August of last year and the two companies have been jockeying back and forth since then. In May 2010 Apple dethroned US software giant Microsoft to become the largest US technology company in terms of market cap. Shares of Apple have risen steadily over the past few years on the release of a string of hit products starting with the iPod in 2001, followed by the iPhone in 2007 and the iPad in 2010. Apple reported record earnings on Tuesday, driven by strong sales of the iPhone 4S, which was released a day before the October 5 death of Apple\'s visionary founder Steve Jobs. Apple\'s net profit more than doubled in the first quarter of fiscal 2012 to a record $13.06 billion, while revenue soared to an all-time high of $46.33 billion from $26.74 billion a year ago. Summing up the general sentiment, investment bank RBC Capital Markets spoke of \"iDomination.\" Apple said it sold 37.04 million iPhones in the quarter which ended on December 31, up 128 percent from a year ago, and 15.43 million iPads, a 111 percent increase. Apple sold 5.2 million Macintosh computers in the quarter, up 26 percent, and 15.4 million iPods, a 21 percent decline from a year ago. Technology market research firm Gartner said that combining Macintosh and iPad sales, Apple sold 20.6 million computers between October and December -- more than the estimated 14.7 million PCs sold by Hewlett-Packard during the same period. Apple also said it ended the quarter with a cash pile of $97.6 billion, prompting Canaccord Genuity technology analyst Michael Walkley to speculate that the company may declare a dividend. \"We believe Apple is likely to announce a dividend during 2012, potentially next quarter when crossing $100 billion in cash and cash equivalents,\" Walkley said. \"We believe Apple is well positioned for very strong 2012-13 sales and earnings growth driven by new product introductions, including the pending refresh of MacBook Air, the iPad 3 launching this spring, an LTE iPhone likely in the third quarter of 2012 and potentially Apple TV exiting 2012,\" he added. Walkley also raised his price target for Apple shares to $650 from $560. The death of Steve Jobs has sparked endless speculation about whether Apple\'s engineers will be able to continue to churn out the hits in his absence. Tim Cook, who took over as Apple chief executive from an ailing Jobs in August, made it clear Tuesday that he believes they can. \"Apple\'s momentum is incredibly strong, and we have some amazing new products in the pipeline,\" Cook said.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today apple shares soar after blockbuster earnings Arab Today, arab today apple shares soar after blockbuster earnings

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 16:50 2017 Wednesday ,22 February

Yahoo salvages Verizon deal

GMT 15:47 2017 Wednesday ,22 February

Airbus faces challenges as it enters new era

GMT 11:47 2017 Wednesday ,22 February

Toshiba skyrockets over 22% on chip unit sale hopes

GMT 11:31 2017 Wednesday ,22 February

Bayer says Monsanto deal on track, eyes record 2017

GMT 10:49 2017 Wednesday ,22 February

Airbus says profits hit by military plane woes

GMT 06:43 2017 Wednesday ,22 February

LuLu festival offers a taste of Egypt
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday