Apple Inc shares rose nearly 3per cent on Friday after the iPhone maker reported blockbuster results and teased its metaverse ambitions, holding out against a rout in technology and growth stocks from the start of this year.
The world's largest company by market value raked in sales of nearly $124 billion and profit of $34 billion - showcasing its ability to navigate a global supply crunch during the crucial holiday quarter. Apple also teased its metaverse ambitions as Chief Executive Tim Cook talked of the company investing in the expansion https://www.reuters.com/technology/apple-teases-metaverse-ar-plans-stock-jumps-2022-01-28 of its library of 14,000 augmented reality apps, prompting strong investor response.
Apple's stock has been under pressure this year from rate hike-driven tech sector selloff, which has also hit giants like Alphabet Inc and Microsoft Corp.
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