Apple shares have been the biggest one-day gain since July 2020 by Reuters

Akash Sriram and Subrat Patnaik

(Reuters) – Apple Inc. (NASDAQ:) shares rose nearly 7% in a one-and-a-half-day one-and-a-half-day high on Friday after the iPhone maker announced its successful results and teased its metaverse intentions.

Cupertino, a California-based company, has offset some of the losses it has suffered in recent weeks from a broad sale of shares of growth and technology shares.

In terms of market value, the world’s largest company earned nearly $ 124 billion in sales and $ 34 billion, demonstrating its ability to navigate the crucial supply quarter in the global supply crisis.

“Apple is known for its supply chain skills and many are wondering what actions Apple has taken and will take to better position itself for this calendar year,” said Third Bridge analyst Scott Kessler.

Apple also teased its metaverse intentions when CEO Tim Cook spoke about the company investing in the spread https://www.reuters.com/technology/apple-teases-metaverse-ar-plans-stock-jumps-2022-01 -28. From a library of 14,000 augmented reality applications, it has provoked a strong response from investors.

At least 11 brokers raised their share price targets, bringing the median price to $ 188.5, according to Refinitiv data. Shares closed Friday at $ 170.33.

As the Federal Reserve prepares to raise U.S. interest rates, Apple’s stock has come under pressure from sales in the tech sector this year, and has also hit giants like Alphabet (NASDAQ 🙂 Inc. and others. Microsoft Corp. (NASDAQ :).

After the quarterly report, it was Apple on Friday and the main participant in a Nasdaq rally.

Apple shares continue to fall by 4% in 2022.

“There is still a lot of uncertainty about the technology sector as it remains very expensive and with the Fed overcoming it could have more unexpected hawkish,” said Andrea Cicione, head of strategy at TS Lombard.

(This story adds a discarded word to the first paragraph)