Apple's market valuation soares more than $150 billion on Friday

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Alan, an ardent smartphone enthusiast and a veteran writer at PhoneArena since 2009, has witnessed and chronicled the transformative years of mobile technology. Owning iconic phones from the original iPhone to the iPhone 15 Pro Max, he has seen smartphones evolve into a global phenomenon.

on Thursday after the market closed. Even though iPhone sales declined 10% in the quarter on a year-over-year basis and were less than Wall Street estimates, any bad news was quickly forgotten when Apple announced a record $110 billion share buy back. That news even topped the announcement that Apple's second largest business segment, Services, reported record revenues during the quarter.

Apple's shares took off instantly in after-hours trading on Thursday and that momentum continued when the opening bell rang on Friday. During Friday's trading session, Apple hit a high of $187 before closing at $183.36 for a gain of $10.33 or 5.97%. With 15,509,763,000 shares outstanding, today's surge added $160.21 billion to Apple's market capitalization giving the company a valuation of $2.83 trillion.on their mind.

Beyond smartphones, Alan has covered the emergence of tablets, smartwatches, and smart speakers.Weekly deals roundup: Galaxy Tab S6 Lite , Pixel phones, and more promos to splurge onSubscribeA discussion is a place, where people can voice their opinion, no matter if it is positive, neutral or negative. However, when posting, one must stay true to the topic, and not just share some random thoughts, which are not directly related to the matter.

 

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