AAPL hits $four hundred worth-per-share milestone on Q3 salary beat

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Apple’s stock price has hit a new milestone of $400 per share in after hours trading on Thursday after the company reported better-than-expected quarterly earnings of $59.7 billion for its third fiscal quarter of 2020.

The price of a share of AAPL has been on the rise since a low-point on March 23 amid coronavirus-related impacts on the global economy. Since that low point, Apple has steadily recovered and climbed its way back to a $300 share price by early May. On May 26, Apple shares regained their pre-crisis levels.

About price-per-share

AAPL hits $400 price-per-share milestone on Q3 earnings beat

About milestone
A milestone is one of a series of numbered markers placed along a road, railway, canal or boundary at intervals of one mile or occasionally, parts of a mile. They are typically located at the side of the road or in a median or central reservation. They are alternatively known as mile markers, mileposts or mile posts (sometimes abbreviated MPs). Mileage is the distance along the road from a fixed commencement point. Commonly the term “milestone” may also refer to markers placed at other distances, such as every kilometre.
Milestones are installed to provide reference points along the road. This can be used to reassure travellers that the proper path is being followed, and to indicate either distance travelled or the remaining distance to a destination. Such references are also used by maintenance engineers and emergency services to direct them to specific points where their presence is required. This term is sometimes used to denote a location on a road even if no physical sign is present. This is useful for accident reporting and other record keeping (e.g., “an accident occurred at the 13 mile mark” even if the road is only marked with a stone once every 10 miles).

On Thursday, AAPL share prices hit the $400 milestone. The stock price surge comes after Apple reported third quarter earnings that smashed analyst expectations. Although the company didn’t guide for the June quarter, the general consensus pre-earnings report averaged $51.47 billion.

Based on the number of outstanding shares, the $400 milestone also means that Apple has a market capitalization of $1.67 trillion. The company is expected to be among the first in the world to hit the $2 trillion market valuation threshold.

AAPL hits $400 price-per-share milestone on Q3 earnings beat

The Cupertino tech giant on Thursday also announced a four-for-one stock split that would occur on August 24 — six years after its last stock split.

Throughout the COVID-19 economic downturn, shares of Apple have proven themselves resilient despite concerns about decreased iPhone supply and demand during the global health crisis. Since March, the company has also made a number of significant announcements and product releases, including the budget-friendly iPhone SE in April and the transition to Apple Silicon at WWDC 2020.

Apple’s share price also remained resilient even as Apple CEO Tim Cook testified before the U.S. House Judiciary Committee as part of an ongoing antitrust investigation into alleged anticompetitive practices on platforms such as the App Store.