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    AAPL   US0378331005


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Apple's stock racks up biggest one-day gain since July 2020

01/28/2022 | 04:48pm EDT
FILE PHOTO: An Apple logo hangs above the entrance to the Apple store on 5th Avenue in the Manhattan borough of New York City

(Reuters) - Apple Inc's shares rallied nearly 7% on Friday in its biggest one-day percentage jump in a year and a half after the iPhone maker reported blockbuster results and teased its metaverse ambitions.

The Cupertino, California company's gain reduced some of the losses it has suffered in recent weeks during a broad selloff in growth and technology stocks.

The world's largest company by market value raked in sales of nearly $124 billion and profit of $34 billion, showcasing its ability to navigate a global supply crunch during the crucial holiday quarter.

"Apple is known for its supply-chain prowess and many wonder about the actions Apple has taken and will take to better position itself for this calendar year," Third Bridge analyst Scott Kessler said.

Apple also teased its metaverse ambitions as Chief Executive Tim Cook talked of the company investing in the expansion https://www.reuters.com/technology/apple-teases-metaverse-ar-plans-stock-jumps-2022-01-28 of its library of 14,000 augmented reality apps, prompting strong investor response.

At least 11 brokerages raised their price targets for the stock, bringing the median price target to $188.5, according to Refinitiv data. The stock ended Friday at $170.33.

With the Federal Reserve preparing to raise U.S. interest rates, Apple's stock has been under pressure this year from a tech sector selloff, which also hit giants like Alphabet Inc and Microsoft Corp.

Following its quarterly report, Apple on Friday was the top contributor to a rally in the S&P 500 and Nasdaq.

Apple's stock remains down 4% so far in 2022.

"Still a lot of uncertainty about the tech sector, which remains very expensive and with the Fed overhang of possible further hawkish surprises," said Andrea Cicione, head of strategy at TS Lombard.

(This story adds dropped word in first paragraph)

(Reporting by Akash Sriram, Subrat Patnaik, Susan Mathew and Medha Singh in Bengaluru; Additional reporting by Noel Randewich in Oakland, California; Editing by Arun Koyyur and David Gregorio)

By Akash Sriram and Subrat Patnaik

© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -3.93% 2237.99 Delayed Quote.-22.75%
APPLE INC. -5.64% 140.82 Delayed Quote.-20.70%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.42% 0.69832 Delayed Quote.-3.17%
BRITISH POUND / US DOLLAR (GBP/USD) 0.26% 1.23729 Delayed Quote.-7.71%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.41% 0.77893 Delayed Quote.-1.28%
EURO / US DOLLAR (EUR/USD) 0.19% 1.04917 Delayed Quote.-7.24%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.12% 0.012868 Delayed Quote.-3.86%
MICROSOFT CORPORATION -4.77% 254.08 Delayed Quote.-24.45%
NASDAQ 100 -5.06% 11928.31 Real-time Quote.-23.01%
NASDAQ COMP. -4.73% 11418.15 Real-time Quote.-23.40%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.74% 0.63378 Delayed Quote.-7.01%
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Analyst Recommendations on APPLE INC.
More recommendations
Financials (USD)
Sales 2022 394 B - -
Net income 2022 99 897 M - -
Net cash 2022 63 669 M - -
P/E ratio 2022 22,9x
Yield 2022 0,64%
Capitalization 2 279 B 2 279 B -
EV / Sales 2022 5,62x
EV / Sales 2023 5,26x
Nbr of Employees 154 000
Free-Float 99,9%
Duration : Period :
Apple Inc. Technical Analysis Chart | AAPL | US0378331005 | MarketScreener
Technical analysis trends APPLE INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 45
Last Close Price 140,82 $
Average target price 189,55 $
Spread / Average Target 34,6%
EPS Revisions
Managers and Directors
Timothy Donald Cook Chief Executive Officer & Director
Luca Maestri Chief Financial Officer & Senior Vice President
Arthur D. Levinson Independent Chairman
Kevin M. Lynch Vice President-Technology
Jeffrey E. Williams Chief Operating Officer
Sector and Competitors
1st jan.Capi. (M$)
APPLE INC.-20.70%2 279 197
DZS INC.-9.49%405