AAPL getting ready to take on the day high after the large gap up on earnings.
Taking a long position intraday.
Apple Inc. took dual steps to reassure investors concerned with its growth prospects, reporting a surge in iPhone sales and giving its shareholder payout program a $30 billion boost.
The worldâ€™s most valuable company said fiscal second-quarter profit grew 7 percent to $10.2 billion and sales rose 4.7 percent to $45.6 billion after making the iPhone available through Chinaâ€™s largest wireless carrier, China Mobile Ltd., earlier this year. IPhone sales were 43.7 million, topping analystsâ€™ estimates of 37.7 million, the company said in a statement today.
Apple said it will also increase its repurchase authorization to $90 billion from $60 billion and announced a seven-for-one stock split. In addition, the company boosted its dividend. Apple said it plans to take on debt to pay for the added stock buyback and dividend plans.
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