Apple Stock Soars on Strong Earnings

Record-breaking profits and positive outlook drive stock to all-time highs

Q3 earnings report beats analyst expectations, revenue reaches new milestone

WEB Discover real-time Apple Inc Common Stock AAPL stock prices quotes historical data news and Insights for informed trading and investment.

Apple Inc. (AAPL) stock jumped more than 5% in after-hours trading on Wednesday after the company reported record-breaking profits and a positive outlook for the coming quarter.

The tech giant reported earnings per share of $1.48 for the third quarter of fiscal 2023, exceeding analysts' expectations of $1.41. Revenue reached a new milestone of $97.3 billion, surpassing estimates of $95.4 billion.

Strong demand for the iPhone 14 series and the company's services segment, including iCloud, Apple Music, and Apple TV+, contributed to the positive financial results.

Apple CEO Tim Cook expressed optimism about the upcoming holiday quarter, stating that the company is "excited to see what the future holds." He cited strong demand for the company's products and services, as well as the expansion into new markets.

Analysts have praised Apple's performance and raised their price targets for the stock. Goldman Sachs increased its target to $180 per share, while JP Morgan raised its target to $175 per share.