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Apple's Stock Continues to Rise, Here's Why
Yahoo Finance - April 18, 2023
You've heard of Apple, right? Well, their stock is doing great right now! Apple Inc. (AAPL) has been on a steady upward trajectory, reaching a new record high yesterday. So what's behind this surge, and what does it mean for investors? Here's what you need to know.
There are a few key factors driving Apple's recent success. First, the company's iPhone business continues to perform well, with strong demand for its latest models. Second, Apple's services business, which includes things like the App Store and iCloud, is growing rapidly. And third, Apple's products are increasingly integrated into people's lives, which is creating a loyal customer base and recurring revenue streams.
These positive developments are reflected in Apple's financial performance. In the most recent quarter, the company reported revenue of $123.9 billion, up 8% year-over-year. Net income was $34.6 billion, up 10% year-over-year. And diluted earnings per share were $2.10, up 9% year-over-year.
Apple's stock has responded well to this strong performance, rising by over 20% in the past three months. And with the company's fundamentals looking strong, there's reason to believe that Apple's stock will continue to perform well in the future.
Some of the key things to consider when evaluating Apple's stock include its strong brand, loyal customer base, and recurring revenue streams. These factors give Apple a strong competitive advantage and position the company for continued success.
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