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Today in the Market (5/2/2024)

Good Morning! On Thursday, U.S. markets rose as investors temporarily put aside concerns about interest rates and instead focused on Apple (AAPL) results and the next monthly employment report.

All three indexes increased with the S&P 500 climbing by 0.91%, the Dow Jones rising by 0.85%, and the NASDAQ surging by 1.51%.

GOOD ENOUGH FOR ME!

Apple (AAPL) released its second-quarter results on Thursday, revealing that sales declined less than anticipated during the period. Additionally, earnings exceeded expectations, causing the company’s shares to rise by as much as 4% in after-hours trading.

  • Revenue: $90.8 Billon vs. $90.3 Billon Expected
    • IPhone Revenue: $45.96 Billon vs. $51.33 Billon from last year
  • Earning Per Shares: $1.53 vs. $1.50 Expected

What did investors like? The company declared its authorization of an extra $110 billion for the buyback of shares and raised its dividend to $0.25 per share. In addition, the income generated from services reached a new milestone of $23.87 billion, surpassing the previous year’s figure of $20.91 billion.

What to expect from Apple in the near future? Apple is getting ready for its Worldwide Developers Conference (WWDC), which is scheduled to take place in June. It is speculated that the company will present the most recent versions of its operating systems, including iOS, macOS, watchOS, iPadOS, and visionOS. However, what people are excited about is how Apple will incorporate generative artificial intelligence into its product lines.

WHAT'S YOUR HIGH SCORE?

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Three new games have been added to the LinkedIn website. These games include the word games Pinpoint and Crossclimb, as well as the logic puzzle Queens. These developments bring to light the fact that word games and puzzles are quite popular at the moment.

Are these types of games that popular? Well… in 2023, Wordle, which was acquired by the New York Times for $1 Million in 2022, has been played more than 4 billion times. To put that into perspective, that is half the population of the world playing the game in one year!

But who cares about LinkedIn? A lot of people apparently! According to Appfigures, the app generated $119 million in mobile app revenue in Q1 of 2024, which is more revenue than Snapchat (SNAP) and X (Twitter) combined… 

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