This is Why Apple Continues to Explode Higher

August 3, 2020, By smallcapfirm,

Shares of Apple (AAPL) continue to explode higher.

For one, its earnings were far better than expectations.   EPS of $2.58 was better than estimates for $2.04.   Revenue of $59.69 billion beat estimates for $52.25 billion. iPhone revenue soared to $26.42 billion, as compared to estimate for $22.37 billion. Services revenue jumped to $13.16 billion, as compared to expectations for $13.18 billion.

Two, Apple just declared a dividend of 82 cents payable on August 13 to shareholders of record at the close of business on August 10.

And three, Apple is splitting 4:1 later this month.

“This is Apple’s fifth stock split since it went public. It also split on a 7-for-1 basis on June 9, 2014; a 2-for-1 basis on February 28, 2005; a 2-for-1 basis on June 21, 2000; and on a 2-for-1 basis on June 16, 1987,” said CNBC.

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