Apple delivers blowout earnings amid COVID-19

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Apple Inc reported revenue gains across every category and in every geography.

The report topped Wall Street expectations, with even long-overshadowed categories like iPads and Macs getting a boost. Shares rose as much as 6% in extended trading after the results.

With the four companies reporting on the same day for the first time ever, Apple, Amazon and Facebook each jumped 5% or more. Alphabet traded up about 0.5%. Thursday's reports reinforced investors' expectations that those deep-pocketed companies will emerge from the coronavirus crisis stronger than their smaller competitors.

Also hit by the recession, Google-parent Alphabet's quarterly sales fell for the first time in its 16 years as a public company, but the decline was less than expected as many advertisers stuck with the most popular online search engine during the pandemic.

 

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