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Wednesday, May 2, 2018

Apple Shares Bounce Back With iPhone Report


On Wednesday, shares of Apple Inc rose 3 percent. This after the company’s quarterly report and current-quarter iPhone sales forecast calmed investor nerves about a potential slowdown in sales of its flagship product. Shares in the Cupertino, California firm had fallen 5 percent in the two weeks before the report. A five percent drop equates to more than $40 billion in market value. This was in thanks largely to a soft outlook from Taiwan Semiconductor Manufacturing Co Ltd which was read as pointing to weak demand for iPhones. Yet while investors were bracing for weak smartphone sales, Apple sold 52.2 million iPhones. The figure was just shy of analysts’ estimate of 52.3 million. At least four brokerages raised their price targets for Apple stock. https://ift.tt/2HH6Dpz http://www.wochit.com This video was produced by YT Wochit News using http://wochit.com

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