Apple Proves Yet Again Why It’s Seen as Safe Haven
- Blowout quarter driven by new products lifts share price
- Apple earnings fail to ignite broader rally in Nasdaq 100
Apple has 1.8 billion devices in customers’ hands.
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
Traders often cite Apple Inc. as a safe haven amid the rout in technology stocks, and for good reason.
Ringing up record revenues in a quarter roiled by severe chip shortages impressed Wall Street analysts and investors, pushing Apple shares 3% higher at open.