Two global Tech Jaguar notebooks, Apple and Facebook, have lived far beyond the expectations of global investors with the latest earnings results. Earlier last night’s earnings reports from the two companies showed that Apple and Facebook had an impressive surge in revenue despite the COVID-19 epidemic.
Apple Inc’s third-quarter earnings breached Wall Street’s forecast despite COVID-19’s limitations, and consumers will continue to connect with more new iPads, iPhones in the COVID-19 era , And found that I bought a Mac computer. Apple shares increased about 6.3% in expansion trading.
Apple, the world’s largest high-tech company, also announced a 4-to-1 stock split after gaining more than 80% of its stock over the past year.
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In a statement, Apple set a June record of $59.9 billion in sales in the third quarter. According to a copy of the consolidated financial statements taken by Nairametrics, this was up 11% year-on-year, above the analyst’s forecast of $52.3 billion.
Tim Cook, Apple’s chief executive officer, was quoted in the company’s press release, saying the company’s good performance shows the important role that its products play in people’s lives.
Apple’s June quarter record showed double-digit growth in both products and services, with growth in each geographical segment. In times of uncertainty, this performance is evidence of the important role our products play in your life. “
Also read: Global tensions plummet as tensions in the US and China rise
Why It Occurs: Cheap Access to Funds in 2020 Brings Global Equity Traders to Betting on Growth Equities, such as Apple and Facebook, and thereby Raising Astronomical Ratings Despite COVID-19 I brought it. These companies also have good macros in their businesses due to low debt, high profit margins, and the fact that most are isolated and most work remotely.
Focus on Facebook financial performance
Meanwhile, Facebook Inc’s second-quarter financial position surpassed analysts’ best expectations, growing from the turmoil of the 2020 COVID-19 global digital advertising pandemic. The company’s apps continue to bring new users.
Facebook reported that its revenue surged 11% to $18.7 billion, compared with $17.3 billion predicted by analysts. Facebook’s leading social app recorded 2.7 billion monthly active users during the review period, compared to an average of 2,633 million analysts surveyed by Bloomberg. Stocks surged about 6.5% in the second half.
READ ALSO: Facebook Brings Digital Payments to WhatsApp, Launches Test Run in Brazil
This impressive earnings result boosted Facebook’s stock, rising $254 on long-term trading t and setting new records after closing at $234.50. Stock prices this year have risen 14% so far.
Meanwhile, Stephen Innes, chief global market strategist at AxiCorp, said buying US stocks now seems like a bargain, despite recent highs in the US stock market. In a note to Nairametrics, he explained: “For equity market investors, the Fed is likely to be long-term, so transferring equity-earnings ratios from 2021 to 2023 would make the shares much Making it look cheap is the Fed’s perpetual policy: Extended Hold. Permanently low interest rates mean you’ll buy future earnings forever in terms of a ridiculously low present value.”
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