Apple shares break out after positive quarterly figures

Apple shares break out after positive quarterly figures

Apple shares experienced a positive upswing among investors thanks to better-than-expected quarterly figures and positive statements about ongoing business. A record share buyback program also contributed to investor enthusiasm. Despite mixed reactions from analysts, Apple shares rose 7 percent to $185.00, their highest since February. The previous annual decline was therefore reduced to just under 4 percent.

Apple's losses so far this year are due in part to concerns about its China business. In the area of ​​artificial intelligence (AI), Apple has also been overtaken by other technology companies in some aspects, such as Microsoft in market capitalization. In addition, the chip company Nvidia has increased enormously in stock market value and has overtaken Google's parent Alphabet, as Nvidia is considered a pioneer in the field of AI.

Although Apple reported a decline in sales in the second fiscal quarter, an increase in the current third quarter was expected to be in the low single-digit percentage range. Apple is planning double-digit growth rates, particularly in the services and iPad tablets business. The company also announced stock buybacks worth up to $110 billion, the largest program of its kind in the company's history.

Analysts such as JPMorgan, Goldman Sachs and DZ Bank praised Apple's promising development. With a focus on upcoming innovations in AI as well as strength in the services and iPhone business, Apple seems well positioned for the current year. The optimistic outlook and potential for revenue growth have been viewed positively by industry experts, with some analysts, such as BofA's Wamsi Mohan, recommending Apple's stock as a "Top Pick" and setting a price target of $230.