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Apple on Monday, January 3, 2022 became the first company in world history to hit the $3 trillion market value milestone. After surging 35% this year, the company is again approaching a market value of $3 trillion. Ryan Vlastelica for Bloomberg News: The stock has soared 35% this year, adding nearly $690 billion in market value, as investors have flocked to the iPhone maker’s steady revenue and massive cash flows. The advance has put Apple within striking distance of its January 2022 record. “In my career, I never envisioned a company of this size, but then I never envisioned a company capable of generating more than $100 billion in free cash flow in a year,” said Patrick Burton, a portfolio…
Apple’s stock surged nearly almost 5% on Friday, hitting a nine-month high and on track for its biggest one-day gain since November after the world’s most valuable company posted quarterly results that cheered investors worried about a looming recession. Noel Randewich for Reuters: The world’s most valuable company reported lower revenue and profits for the quarter ending April 1, but still beat analysts’ expectations. With Apple’s results helped by emerging markets like India, executives said gross profit margins for the current quarter would be better than forecast. Apple’s stock market value climbed by over $100 billion to about $2.7 trillion, extending its lead over Microsoft, the world’s second most valuable company, at $2.3 trillion. Last trading at $173.48, the Cupertino,…
Apple CEO Tim Cook today provided some commentary surrounding artificial intelligence amid the surging popularity of ChatGPT and other chatbots. Speaking on Apple's quarterly earnings call today, Cook said artificial intelligence's potential is "very interesting," but noted that it is "very important to be deliberate and thoughtful" in regards to how the technology is used. Cook said Apple has already integrated artificial intelligence and machine learning across several of its products and services, pointing out features like Fall Detection, Crash Detection, and the ECG app on the Apple Watch. He added that Apple will continue to weave artificial intelligence into its products on a "very thoughtful basis." The New York Times in March reported that excitement surrounding chatbots demonstrates how…
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