This is Why Apple Continues to Explode Higher
Shares of Apple (AAPL) continue to explode higher.
For one, its earnings were far better than expectations. EPS of $2.58 was better than estimates for $2.04. Revenue of $59.69 billion beat estimates for $52.25 billion. iPhone revenue soared to $26.42 billion, as compared to estimate for $22.37 billion. Services revenue jumped to $13.16 billion, as compared to expectations for $13.18 billion.
Two, Apple just declared a dividend of 82 cents payable on August 13 to shareholders of record at the close of business on August 10.
And three, Apple is splitting 4:1 later this month.
“This is Apple’s fifth stock split since it went public. It also split on a 7-for-1 basis on June 9, 2014; a 2-for-1 basis on February 28, 2005; a 2-for-1 basis on June 21, 2000; and on a 2-for-1 basis on June 16, 1987,” said CNBC.