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Despite muted outlook, Apple shares rise on strong iPhone prices, cash plan

Apple's comments about plans for its $163 billion in net cash helped boost shares 3.3 percent to $173.48 in after-the-bell trading

Reuters 

Stronger iPhone prices and hints by Apple Inc on Thursday that it could return more than half of its $285 billion in cash to shareholders eased concerns among investors, even as the world's biggest technology company gave a disappointing revenue outlook for the current quarter. Apple also reported it sold fewer iPhones over the holiday quarter than Wall Street had expected. But the revenue outlook for the first three months of 2018 "was not as bad as some feared," said Jun Zhang of Rosenblatt Securities Inc. Apple's comments about plans for its $163 billion in ...

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First Published: Fri, February 02 2018. 10:06 IST
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