Apple shares rise 3% on strong quarterly sales growth
Apple shares rose 3% after reporting its strongest sales growth in four years. Outgoing CEO Tim Cook warned that rising memory costs will weigh on the business.
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APPLE INC shares rose 3% in Friday morning trading after the company reported its strongest quarterly sales growth in four years. The results exceeded Wall Street margin estimates and included a revenue growth forecast of 14% to 17% for the current quarter. This momentum provides a financial cushion for incoming CEO John Ternus as he prepares to lead the hardware giant in September.
