Apple posts strong results, but warns of supply constraints
Apple (AAPL) stock price took advantage of lackluster results from Facebook to rebound on Thursday. Apple shares rose 4.5% ahead of the release of its results at market close.
Apple’s results were very satisfactory, with revenue growth in most of its segments, including iPhones, and a much larger than expected profit increase ($1.52/share vs $1.43 $).
Nevertheless, the share price is down just over 2% in electronic trading after Chief Financial Officer Luca Maestri warned of challenges in the current quarter, including supply constraints. which could affect sales by up to $8 billion. Health restrictions in China, particularly in Shanghai, will therefore be important for Apple’s business.
Apple stock price daily chart – key levels