AAPL stock skyrockets toward 500 in pre-market trading following 9M iPhone sales and high-end guidance
AAPL quickly climbed 6 percent in pre-market trading following Apple’s announcement that it had sold a record 9M iphones in the first weekend, beating most analyst expectations. The last time it hit $500 was six weeks ago, when Carl Icahn announced his increased stake in the company, believed to be in excess of $1.5B.
Analyst forecasts for sales of the new iPhones had ranged wildly from 5M to 10M, but 9M was at the high end of what most were expecting and substantially above the more pessimistic forecasts. Four major financial firms had seemed unimpressed by the announcement on 10th September, downgrading the stock.