Apple’s gratifying earnings report drove its stock price up 7.56%

A few days ago, Apple officially released its performance report for the third quarter of 2022. It shows that the revenue in this quarter was USD146 billion, a year-on-year increase of 8.1%, and the net profit was USD 20.71 billion, a slight increase of 0.83% year-on-year.

Thanks to the early launch of the iPhone 14 series, this third-quarter performance was very eye-catching, with iPhone revenue reaching $42.63 billion, a year-on-year increase of 9.67%.

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Data from research firm StrategyAnalytic also shows that Apple’s global market share will reach 16% in the third quarter of 2022, which is the highest level Apple has achieved in the third quarter in the past twelve years.

In particular, the iPhone 14 Pro market has performed very strongly, and it is still in short supply, which also makes Apple confident. Even Cook said at the meeting “Versailles” that the Pro series will continue to be in short supply for some time.

Apple Earning report 2022Thanks to the outstanding financial report data, Apple’s stock price also stood out among the plummeting US technology companies. It opened higher on Friday and closed up 7.56%, the largest one-day increase since April 2020, and its market value overnight, soaring 176.1 billion US dollars.

In addition to Apple, US technology giants such as Microsoft, Google’s parent company Alphabet, Facebook’s parent company Meta, and Amazon have seen their stock prices fluctuate sharply and continue to fall after the announcement of their financial reports.

(via) 

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