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Apple Inc. (NASDAQ:AAPL) shares popped about 2% during the company’s earnings call, as investors reacted to stronger-than-expected June-quarter guidance and a notable shift in Apple’s capital-return framework.
- AAPL stock is up. See the chart and price action here.
Management guided for June-quarter revenue growth of 14% to 17%, well ahead of Street expectations for roughly 9% growth.
Apple also forecast gross margin of 47.5% to 48.5%, compared with consensus expectations of 47.6%, signaling continued pricing power and cost discipline.
AAPL Q2 Details
The upbeat outlook follows Apple’s fiscal second-quarter double beat.
The company reported revenue of $111.18 billion, up 17% year over year and above analyst estimates of $109.66 billion, while earnings …
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