Nvidia, $NVDA, was up another 6% yesterday (including after hours) moving to a record $1,237/share.
This puts the stock up 155% in 2024 ALONE, adding $1.83 TRILLION of market cap. To put this in perspective, Nvidia has now added as much market cap as the entire value of Amazon, $AMZN, in 6 months. 10 years ago Apple had a market cap 53x higher than hashtag#Nvidia. Today, Nvidia ended the day with a market cap of $3 trillion, surpassing Apple to become the 2nd largest company in the world. Note that Nvidia has also accounted for almost HALF of the S&P 500's YTD market cap gain... Source: Charlie Bilello. The Kobeissi Letter
1 of the craziest stats in the market right now 👇
$AAPL announced a $110B stock buyback program in Q1. If you strip out the Mag 7 from the index, the average market cap for the S&P 493 is just $65B. $AAPL buyback program is 169% larger than the average S&P 493 company. Source: David Marlin
Apple iPhone shipments in China rebound 52% in April
Source: Bloomberg
$AAPL is bigger into financial services than many realize:
- payments - savings - credit cards - BNPL Services now make up 22% of AAPL's revenues, with payments hitting all time revenue highs. Fun fact, in 2022, Apple Pay processed over $6T in payments, and is #1 mobile wallet Source: The Investing for Beginners Podcast @IFB_podcast
Apple has bought back $625 billion in stock over the past 10 years, which is greater than the market cap of 492 companies in the S&P 500.
$AAPL Source: Charlie Bilello
Apple's $AAPL iPhone revenue every Q1 since the smartphone was first introduced
Source: Evan
Apple $AAPL CEO Tim Cook during earnings conference:
Apple has “big plans to announce” from an “AI point of view” during its iPad event next week as well as at the company’s annual developer conference in June - CNBC
BREAKING: Apple $AAPL climbed 7% in extended trading after the company announces a $110 BILLION share buyback.
Apple reported quarterly revenue of $90.8 billion and EPS of $1.53, both of which were above expectations. However, revenue in Greater China was down by 8.1% and iPhone sales fell 10%. Apple did not provide formal guidance, but Apple CEO Tim Cook told CNBC’s Steve Kovach that overall sales would “grow low single digits” during the June quarter. Apple announced that its board had authorized $110 billion in share repurchases, a 22% increase over last year’s $90 billion authorization. It’s the largest in history, ahead of Apple’s previous repurchases, according to data from Birinyi Associates. Apple is the latest tech giant to announce a massive share buyback after $META and $GOOGL. We are on track to see over $1 trillion in share buybacks this year for the first time in history. Mixed earnings but buybacks are all the market wants. Source: The Kobeissi Letter
