Nasdaq AAPL Apple

(RTTNews) - Shares of Apple Inc. (AAPL) are up more than 6% Friday morning on upbeat third-quarter results. The stock touched a new high of $412 this morning.

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Technology stocks were rallying premarket Friday as the Technology Select Sector SPDR ETF (XLK) was up more than 1% and the SPDR S&P Semiconductor (XSD) was about 2% higher recently.

A compilation of the most active stocks on U.S. exchanges. For faster updates on individual market-movers, Eikon users please use search string "STXBZ US" and Thomson One users please search "RT/STXBZ US".

Wall Street was set to open higher on Friday after tech titans Apple, Amazon.com and Facebook posted blowout quarterly earnings, helping keep nagging pandemic nerves at bay.

Apple customer loyalty and response to the COVID-19 pandemic have proven brick-and-mortar stores are not essential to drive sales of its products, J.P.Morgan said on Friday, as the iPhone maker's blockbuster quarterly results pushed its shares up 7%.

There was a lot to like in Apple's (NASDAQ: AAPL) blowout quarterly report on Thursday afternoon, but the meatiest morsel out of the tech bellwether is that it will execute a 4-for-1 stock split at the end of next month. It's a move that could prove to be contagious among its fe

Should little progress be made in Washington today, we suspect we will once again be closely watching the Sunday talk shows for hints for what could come next in terms of possible pandemic aid packages and their timing.

European shares recovered from their lowest levels in a month on Friday, as investors looked past a severe economic contraction in the euro zone and on to company earnings, while the euro reached its highest in more than two years, set for its best month in a decade.

Northern Ireland on Friday launched the United Kingdom's first COVID-19 tracing app, and the first one that can also trace users in another country, Ireland, who have been in contact with someone suffering from the disease.

A compilation of the most active stocks on U.S. exchanges. For faster updates on individual market-movers, Eikon users please use search string "STXBZ US" and Thomson One users please search "RT/STXBZ US".

Image source: The Motley Fool.

Futures tracking the Nasdaq 100 index jumped nearly 1% on Friday as tech titans Apple, Amazon.com and Facebook managed to deliver impressive quarterly earnings despite the COVID-19 pandemic that has crushed the wider U.S. economy.

COVID-19 has wreaked havoc on the economy, leading to difficult times for many businesses. But there's some good news on Wall Street this week. One subset of companies is putting up some impressive numbers: tech. The companies enabling digital transformations and providing servi

European stocks rose on Friday, with technology shares leading the way after bumper earnings from Wall Street's big tech names and Nokia eased nerves about global growth amid surging coronavirus cases.

European shares recovered from their lowest levels in a month on Friday, as investors looked past a severe economic contraction in Germany and on to company earnings, while the euro reached its highest in more than two years, set for its best month in a decade.

European shares were largely flat on Friday after encouraging earnings updates from Nokia, BNP Paribas and others countered concerns about a global economic recovery as coronavirus cases surged globally.

Shares in Apple (AAPL) rose 6.4% in Thursday’s after-hours trading, after the iPhone maker delivered impressive results for the fiscal third quarter.

Specifically, Q3 GAAP EPS of $2.58 beat Street estimates by $0.51, while revenue of $59.69B surged 10.9% year-over-year, and beat Street estimates by $7.13B. That included the all-important iPhone Revenue of $26.42B (vs consensus at $22B, and up 2% year-over-year) while Services Revenue also held up strong at $13.16B (vs consensus at $13.13B). Wearables were ~$0.5B above consensus.

Notably China delivered $9.3 billion in revenue, up 2% y/y (6% in constant currency-an eye popping number) as this key region was considerably better the Street’s expectation. Meanwhile gross margin of 38% was in line with the Street's 38.0% estimate.

“Apple’s record June quarter was driven by double-digit growth in both Products and Services and growth in each of our geographic segments,” said Tim Cook, Apple’s CEO. “In uncertain times, this performance is a testament to the important role our products play in our customers’ lives and to Apple’s relentless innovation.”

Meanwhile Luca Maestri, Apple’s CFO added: “The record business results drove our active installed base of devices to an all-time high… We grew EPS by 18% and generated operating cash flow of $16.3 billion during the quarter, a June quarter record for both metrics.”

Following the report Wedbush analyst Daniel Ives reiterated his buy rating on the stock with a $450 price target. “Overall these were "blow out" results which in our opinion will add another leg to the Apple long term growth story” he cheered on July 31. He believes that during 2021 Apple will be the first $2 trillion valuation given the 5G tailwinds and services momentum potential over the coming years.

“We are seeing a continued demand snapback in China as evidenced by these results despite some speed bumps and the stage is setting up for a massive pent up iPhone 12 cycle heading into the Fall in this key region as well as globally” Ives told investors.

In a bullish move, RBC Capital analyst Robert Muller ramped up his price target from $390 to $445 following the print. He notes that AAPL expects its new iPhone model supply to be available "a few weeks later" compared to last year's late September launch, but says the difference is ‘immaterial’ given the (presumable) generational upgrade to 5G should the phone launch in mid/late October.

“Recall that iPhone X, a highly anticipated form factor upgrade, was released in early November and drove a still-record quarterly iPhone revenue result. Despite anticipation of a 5G upgrade, AAPL expects recent iPhone performance (which topped expectations) will continue through next quarter” Muller explained on July 30.

Overall, Apple scores a cautiously optimistic Moderate Buy Street consensus with an average analyst price target of $379. Shares in Apple have surged 31% so far this year. (See AAPL stock analysis on TipRanks).

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Asian shares turned lower in a choppy session on Friday as abysmal economic data from the United States and rising global COVID-19 cases darkened the mood, despite strong U.S. tech earnings and manufacturing recoveries in China and Japan.

SAP and Deutsche Telekom are close to a deal to build a software platform that would enable smartphone apps for measuring risks of coronavirus infections to exchange information, Wirtschaftswoche magazine reported on Friday.