Apple's falling iPhone sales don't bother Wall Street so long as margins, buybacks are increasing
Publishing timestamp: 2024-05-03 07:48:54
Summary
Apple's iPhone sales were down 10% in the March quarter, but the stock jumped after the report due to expanding profit margins and a bigger buyback program. Despite the decline in iPhone sales, investors focused on positive aspects such as Apple's growing services business and strong cash flow. Apple also announced $110 billion in share buybacks, the most ever for a public company. The company's shift towards being viewed as a financial powerhouse rather than just a gadgets business is evident.
Sentiment: MIXED
Tickers: AAPL,
Keywords: entertainment, business news, apple inc, dividends, earnings, iphone, mobile, technology, business, breaking news: technology,