"Apple earnings were hot thanks to iPhone 17 sales. EPS of $1.85 was above the estimates of $1.77. Revenue of $102.47 billion was above estimates of $102.24 billion. Even better, according to Apple CEO Tim Cook, revenue in the current quarter will rise by at least 10% thanks to the strong reception of the company's iPhone 17 sales. Analysts loved it. Evercore ISI reiterated an outperform rating with a $300 price target."
"The major indices are exploding to higher - again. Look at the S&P 500 , now up 0.84%, 60 points in premarket, it's now up to 6,913. In part thanks to impressive earnings beat from Apple ( NASDAQ: AAPL) and Amazon ( NASDAQ: AMZN). SPDR S&P 500 ETF Trust ( NYSEARCA: SPY) up the same percentage now trades over $680 per share."
Major U.S. indices surged in premarket trading, with the S&P 500 climbing about 0.84% to roughly 6,913, driven by strong earnings from Apple and Amazon. Apple reported EPS of $1.85 and revenue of $102.47 billion, beating estimates, and forecasted at least 10% revenue growth next quarter due to iPhone 17 sales. Multiple investment banks raised price targets and ratings on Apple. Amazon reported EPS of $1.95 and revenue of $180.17 billion, also exceeding estimates, and its shares jumped about $30 in premarket. The SPDR S&P 500 ETF traded above $680 per share.
Read at 24/7 Wall St.
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