Apple Inc. (NASDAQ:AAPL) shares rallied Friday after the company’s second-quarter results and stronger-than-expected guidance reassured Wall Street that iPhone demand, services momentum and gross margin resilience remain intact.
- AAPL stock is approaching new highs. See the chart and price action here.
The Cupertino, California-based stock guided for fiscal third-quarter revenue growth of 14% to 17%, above Street expectations, and gross margin of 47.5% to 48.5%.
Shares were trading higher Friday, rising 4.3% to $282.95 and reaching an intraday high of $287.22, putting AAPL stock within striking distance of its 52-week high of $288.62, per Benzinga Pro data.
The move reflected a quarter that checked several boxes bulls had been waiting for: accelerating iPhone demand, stronger Services growth, better-than-feared margins and a June-quarter revenue outlook well above Wall Street expectations.
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