(Finance) – Definitely positive session for Applewhich is trading up by 6.99%, thanks to the announcement of a maxi buyback of 110 billion dollars after results above expectations.
The second quarter of fiscal year 2024 (ended March 30, 2024) closed with a sales of $90.8 billion, down 4% year-over-year but above analysts’ expectations of $90.01 billion, a useful of $23.6 billion (vs. $24.2 billion a year ago) and a earning per share of $1.53, equal to the first quarter of 2023 and above Wall Street estimates of $1.50.
Apple’s board declared a cash dividend of $0.25 per share of common stock, an increase of 4%.
The analysis of the stock performed on a weekly basis highlights the bullish trendline of the home of Cupertino more pronounced than the trend of Dow Jones. This expresses the market’s greater attractiveness towards the stock.
The short-term technical status of Apple highlights an expansion of the positive performance of the curve with the first area of resistance identified at 187.2 USD. Risk of possible correction up to the 182.9 target. Expectations are for an increase in the bullish trendline towards the 191.5 resistance area.