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“Unbelievable” quarter for Apple, shares jump – With insights from The Wall Street Journal
Demand for new 5G iPhones helps fuel a more than doubling of quarterly profit to $23.6 billion, says Tim Higgins of The Wall Street Journal.
Apple's share price jumped 4% in after hours trading last night to hit a fresh peak of $137 a share. That takes its market cap to an astonishing $2.3trn – six and a half times SA's pre-Covid GDP. The latest jump was based on quarterly financial results which emphasised the huge boost lockdown gave the digital sector. Apple's experience mirrors what we saw fin the Microsoft and Alphabet quarterlies released on Wednesday. Apple is the second biggest holding in the BizNews share portfolio. Here's the story from our partners at The Wall Street Journal. – Alec Hogg
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