Apple (AAPL) announced its quarterly earnings on Wednesday.
The company’s earnings report exceeded analysts’ estimates with the company earning $10.2 billion, or $11.62 a share. Apple stock closed out on Wednesday down 1.31% at a per-share price of $524.75.
CEO Tim Cook also talked about the company’s 7-for-1 stock repurchase plan. The plan’s aim is to make AAPL stock more attractive to potential buyers.
Cook said that the company’s sales were on the high-end of its forecasts with 16.4 million iPads sold. The company’s CEO also said that the iPad is the fastest-growing product in Apple’s history with 210 million sold since its launch four years ago.
Apple is aiming for third-quarter revenue between $36 billion and $38 billion.
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