warning-market-meltdown!-apple-90b
Apple (#APPL) $90B Share buyback and stock market update. Transcript below along with chapters. Thank you so much to those who support the stream, use these links to tip or learn:
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Hold onto your hats, folks! The stock market took a hit on Thursday as renewed concerns about the banking sector sent investors into a panic.
Despite digesting the Federal Reserve's decision from the day before, Wall Street was feeling the heat, with the major U.S. equity averages continuing their downward spiral.
The Nasdaq Composite, S&P 500, and Dow all closed lower, with the S&P 500 notching its fourth consecutive day of declines. Regional banks were the main culprit, with PacWest Bancorp plunging over 50% after revealing it was exploring strategic options.
Meanwhile, Western Alliance Bancorp shed about 39% on reports (denied by the company) that it was considering a potential sale. And First Horizon's proposed merger with TD Bank hit a wall, causing the stock to plummet 37%.
But the stock market wasn't the only thing on the minds of investors. Apple (AAPL) earnings were due out after the closing bell, adding to the excitement and uncertainty of the day. As for the Federal Reserve, they had raised interest rates another quarter percentage point the day before, emphasizing their data-dependent approach to future decisions.
This led to buying in the fixed-income market, which sent Treasury yields lower. The 10-year yield slipped 4 basis points to 3.37%, while the more rate-sensitive 2-year yield declined 17 basis points to 3.76%.
Despite the ups and downs of the stock market, one thing is for sure: it's always a wild ride helps in no small part by Apple's (NASDAQ:AAPL) exciting news for investors!
The tech giant has just reported second-quarter results that exceeded expectations, sending shares soaring by approximately 1% in extended-hours trading.
For the period ending April 1, Apple (AAPL) generated $94.84B in revenue, with earnings per share of $1.52. One key driver of this impressive performance was the iPhone, which saw a 1.5% YoY increase, bringing in $51.33B in revenue.
Although analysts had expected Apple (AAPL) to earn $1.43 per share on $92.84B in revenue, the company exceeded these estimates, with revenue from wearables, home and accessories totaling $8.76B and services revenue rising by 5.5% YoY to reach $20.91B.
However, the Mac and iPad segments declined, bringing in $7.17B and $6.67B respectively, down 31% and 13% YoY.
Despite some setbacks due to COVID-19 lockdowns, Apple's revenue from Greater China still came in at an impressive $17.81B, down only 2.9% YoY, as the country returned to a more normal economic state.
In addition to these impressive financial results, Apple (AAPL) also unveiled a new $90B share buyback program and increased its quarterly dividend by 4.3% to 24 cents per share.
This is great news for shareholders, as the next payout will come on May 18.To find out more about these exciting developments, tune into Apple's conference call at 5 p.m. EST. All in all, this is an exciting time for Apple (AAPL) and its investors, as the company continues to deliver strong financial results and demonstrate its commitment to returning value to shareholders.
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Provisional Chapters:
00:00 Apple Share Buy Back
00:13 Stock Market Update
07:55 Charts
This is not financial advice
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https://www.youtube.com/watch?v=0v0AAXBcTIM
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