Apple stock jumps after buyback announcement, China sales show nuance
Tech in Asia·2024-05-03 17:00
An Apple store in China / Photo credit: Apple
Apple reported a notable increase in quarterly revenue from China amid a decline in overall iPhone sales globally, Bloomberg wrote.
This announcement, coupled with news of a US$110 billion stock repurchase, propelled Apple’s shares by up to 7.9% in after-hours trading.
China, according to Apple CEO Tim Cook, represents 18% of Apple’s total net sales.
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