Apple's shares closed at a record $349.51 on Wednesday, rebounding strongly from its post-earnings dip. The stock opened at $341.56, peaked at $354.50, and finished up 5.31%, surpassing the previous record close of $348.91 set on October 29. The surge was fueled by the U.S. midterm election and a broad rally across FAANG stocks, with the NASDAQ also rising 1.44%.
Apple reported Q4 revenue of $114.5 billion, beating the $113.4 billion consensus, driven by iPhone sales reaching $57.6 billion and a second tariff refund. Other tech giants like Meta, Amazon, Netflix, and Alphabet also gained, while SpaceX and Nvidia declined. The market reaction reflects both election optimism and delayed appreciation for Apple's strong quarterly performance.
Source: AppleInsider · Summarized by HeadlinesBriefing