Apple Stock Surges on Positive Earnings Report
Record Sales Boost Share Prices
Investors React Favorably to Q3 Results
Apple Inc. (AAPL) stock surged in after-hours trading on Monday following the release of the company's Q3 earnings report. The tech giant reported record sales and earnings, driven by strong demand for its iPhone and Mac products.
According to the report, Apple's revenue for the quarter was $90.1 billion, up 11% year-over-year. Net income reached $25 billion, a 14% increase compared to the same period last year.
Analysts attributed the strong performance to the success of Apple's new iPhone 14 series, as well as continued growth in its services businesses, including Apple Music, iCloud, and Apple Pay. Investors reacted favorably to the results, sending Apple's stock price up by over 5% in after-hours trading.
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