Dow Trades Above 22,000 for First Time as Apple Reaches All-Time High

  • 08/02/2017
  • Source: The Street
  • by: Keris Alison Lahiff

Stocks were mixed on Wednesday, Aug. 2, though positive earnings from Apple Inc.  (AAPL)  pushed the Dow Jones Industrial Average above 22,000 for the first time. 

The Dow Jones Industrial Average was up 0.2% to 22,009, putting the index on track to close at a record for its fifth session in a row. The S&P 500 fell 0.07%, and the Nasdaq added 0.4%.

Apple gained more than 5% after reaching an all-time intraday high of $159.75 earlier in the session. The world's largest company beat earnings forecasts and issued an outlook that seemed to allay worries over potential iPhone 8 delays. Apple said it expects revenue in its fiscal fourth quarter, which ends in September, to be about $49 billion to $52 billion, a figure that tops analysts' forecasts and suggests that rumors of production and technical delays linked to the 10th anniversary iPhone release later this year were unfounded.

For its fiscal third quarter, the world's biggest tech company posted earnings of $1.67 a share on revenue of $45.41 billion. Apple said all-time iPhone sales topped the 1.2 billion mark during the three months ended in June after 41.03 million units were shipped during the quarter, a 1.6% increase from the same period last year.
 Source: The Street
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