Apple shares rose 1.41% to close at $175.43 on Friday, approaching a 52-week high

According to news from IT House on May 27, Apple’s stock price closed at $175.43 on Friday, up $2.44 (+1.41%).It is approaching its 52-week high of $176.39 reached on May 19 last year.

Apple recently announced its latest financial report for the second quarter of the 2023 fiscal year (as of March 31), with total revenue of $97.3 billion (currently about 688.884 billion yuan) and earnings per share of $2.34; The division’s $94.1 billion and $2.18 per share forecast.

Apple announced it would return $90 billion to shareholders in the form of buybacks and dividends. Strong earnings and buyback announcements helped further boost investor sentiment towards the company.

The S&P 500 is up 8.1% in 2023, largely thanks to contributions from the eight largest technology stocks. The tech-heavy Nasdaq Composite rose 21%, its best start to the year since 1991, according to Dow Jones Market Data.

Microsoft announced a $10 billion investment in OpenAI, the startup behind ChatGPT, in January, a 36 percent increase so far. Apple, Google parent Alphabet and Amazon.com all gained more than 33%.