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Apple earnings help market end week on high note

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Apple (AAPL) stock gained nearly 6% on Friday following an earnings update that impressed most analysts.

Apple beats fiscal Q2 consensus for EPS, revenue. Sales drop 4% YoY, but guidance rises for current quarter. Largest ever buyback of $110 billion approved by board. Apple earnings drive broad market indices higher on week. Apple stock gained nearly 6% on Friday following an earnings update that impressed most analysts. Percentage-wise, Apple stock gained the most in a single session since November 10, 2022.

stock heading into the Q3 results, especially since June is when Apple is slated to deliver its artificial intelligence strategy. Wedbush Securities praised the guidance and kept its $250 price target on 100 traded for 60 times earnings, but in mid-2023 the index traded at 25 times earnings. Apple stock forecast Apple stock leapt well above the moving averages on Friday. With the 20-day, 50-day and 100-day Exponential Moving Averages structured with the shorter duration on the bottom,

 

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