Apple exceeds Wall Street expectations

Apple Inc. reported financial results for its fiscal 2022 second quarter after the closing bell on Wall Street on Thursday. World’s largest company beat both revenue and earnings per share estimates.

Total revenue reported at $97.278 billion in the quarter (a 9% percent year-over-year) vs. $94.034 billion expected.

Earnings per share at $1.52 per share vs. $1.42 per share expected.

”This quarter’s record results are a testament to Apple’s relentless focus on innovation and our ability to create the best products and services in the world,” Apple’s CEO, Tim Cook commented on the latest results.

”We are delighted to see the strong customer response to our new products, as well as the progress we’re making to become carbon neutral across our supply chain and our products by 2030. We are committed, as ever, to being a force for good in the world — both in what we create and what we leave behind,” Cook added.

The company also announced cash dividend of $0.23 per share.

Apple Inc. chart

Shares of Apple were up by 4.52% at the end of the trading day on Thursday at $163.58 a share. The stock fell by around 3% in the after-hours trading following the latest financial results.

Here is how the stock has performed in the past year:

• 1 Month -6.28%
• 3 Month +2.78%
• Year-to-date -7.84%
• 1 Year +22.60%

Apple’s price targets

• Barclays: $170
• Credit Suisse: $168
• Deutsche Bank: $210
• Morgan Stanley: $210
• UBS: $185
• Wells Fargo: $205

Apple Inc. has a total market cap of $2.670 trillion.

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Sources: Apple Inc., TradingView, CompaniesMarketCap