Apple Stock Rises On March-Quarter Beat

Consumer electronics giant Apple (AAPL) late Thursday beat Wall Street’s targets for its fiscal second quarter on strong sales in iPhones and services. Apple stock rose in extended trading.

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The Cupertino, Calif.-based company earned $1.52 a share on sales of $94.8 billion in the quarter ended April 1. Analysts polled by FactSet had predicted Apple earnings of $1.43 a share on sales of $92.9 billion. In the year-earlier period, Apple earned $1.52 a share on sales of $97.3 billion.

In after-hours trading on the stock market today, Apple stock climbed 1.2% to 167.77. During the regular session Thursday, Apple stock fell 1% to close at 165.79.

Earnings report details to follow.

Apple stock is on the IBD Tech Leaders list. It has an IBD Composite Rating of 91 out of 99, according to IBD Stock Checkup.

IBD’s Composite Rating is a blend of key fundamental and technical metrics to help investors gauge a stock’s strengths. The best growth stocks have a Composite Rating of 90 or better.

Potential catalysts for Apple stock in the months ahead include the rumored introduction of a mixed-reality headset at the company’s Worldwide Developers Conference in June.

Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.

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