Apple's Share Price Surges After Earnings Report

Apple’s share price experienced a significant surge Thursday following its impressive Q1 earnings announcement. Here are the key details:

Share Price Movement: On that particular day, Apple’s share price soared approximately 7%, reaching $170. This remarkable increase was driven by the news that Apple achieved a staggering $124 billion in revenue during Q1.

Pre-Market Trading: Prior to the market opening, Apple’s share price had already climbed nearly 5% during pre-market trading, opening strongly at $165.

Warren Buffet’s Holdings: The gain in Apple’s share price had a significant impact on Warren Buffet’s Berkshire Hathaway holdings, which grew in value by almost $10 billion in just one day. Berkshire Hathaway owns almost 888 million Apple shares, representing more than 5% of Apple’s total stock.

Earnings Highlights: During the Q1 earnings call, Apple reported a new all-time quarterly revenue record of nearly $124 billion. The company’s quarterly profit stood at $34.6 billion. Growth was observed across all product lines, including strong performance from the iPhone 13. However, iPad sales were impacted by supply constraints.

Dividend for Shareholders: Not only did shareholders witness portfolio growth, but they can also expect a handsome dividend of $0.22 per share.