Apple Shares Outperform S&P 500 in Past Month, Up 12%

24/7 Wall St.

upsideApple Inc.’s (NASDAQ: AAPL) shares handily outperformed the S&P 500 over the past month. They have risen almost 12% to $108 as the index is up barely 1%. The stock also has outperformed tech giants Facebook Inc. (NASDAQ: FB) and Alphabet Inc. (NASDAQ: GOOGL). Just a few weeks earlier, Apple was in the dumps. What a difference a short period makes.

Apple’s earnings were considered lackluster. Sales of its flagship iPhone family were weak. Its sales in Greater China, the area where Apple management says they have to win, fell sharply.

On July 26:

Apple financial results for its fiscal 2016 third quarter ended June 25, 2016. The Company posted quarterly revenue of $42.4 billion and quarterly net income of $7.8 billion, or $1.42 per diluted share. These results compare to revenue of $49.6 billion and net income of $10.7 billion, or $1.85 per diluted share, in the year-ago quarter. Gross margin…

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