Apple CEO Tim Cook greets attendees during a special event on September 10, 2019 at the Steve Jobs Theater on the Apple campus in Cupertino, California.
Justin Sullivan | Getty Images
Apple drove the company’s strong earnings report to become the world’s most valuable listed company, and outperformed state-owned oil giant Saudi Aramco at the close on Friday.
Apple stock closed 1
Apple’s strong third-quarter profit for the fiscal year, released Thursday, boosted its share as investors recovered behind the company’s 11% year-over-year growth. Apple also announced a 4: 1 stock split.
The company recovered from its pandemic low in March. Shares rose more than 44% this year.
“Despite the headwind of COVID-19, Apple was able to increase sales in all segments and regions and outperform consensus sales by 14% with increasing ecosystem engagement,” Morgan Stanley analysts wrote in a research report on Friday.