Apple CEO Tim Cook, coming out of a burst quarterly report, is confident the US economy can have a healthy recovery.
“I’m still bullish because we got into this very strong. And I think, I think more stimulus is needed, but I’m optimistic that it will happen. And yes, I do, I think we can, we can “We have a strong comeback,”; Cook told FOX Business.
Cook’s remarks came on the same day U.S. GDP fell 32.9 percent in the three months to June,
|AAPL||APPLE INC.||384.76||4.60||+ 1.21%|
The iPhone maker executive also gave existing investors an extra surprise; a four-for-one stock split that could attract a new investor culture.
The move is offered to “make the shares more accessible to a wider investor base”, according to the release of profits.
APPLY P SPR SHP DISTRIBUTION OF TOL WINNERS TO BLOCKERS FREE TOL
At the close of trading on August 24, each record holder in Apple will receive three additional shares for each share held. The regulated trade in the division will start on 31 August. Apple previously had a 7-for-1 stock split in 2014.
Apple shares have gained 31 percent this year, beating the Nasdaq Composite 18 percent gain.
Despite the global coronavirus pandemic that has prevented retailers from forcing stores to close indefinitely, Apple managed to post an 11 percent revenue increase to $ 59.7 billion, over the $ 52.2 billion Wall Street was predicting.
The tech giant was able to achieve this growth even though a good portion of the stores remain closed.
“We have 75% open today, worldwide, and we’re making store-by-county store decisions by county depending on local conditions,” Cook said.
CEOS BIG TECH DIVIDUAR IN THE THEFT TECHNOLOGY CHINA
The results come a day after Cook and his other tech friends on Amazon, Google and Facebook appeared before Congress to defend their business models and work in China.
|AMZN||AMAZON.COM INC.||3,051.88||18.35||+ 0.60%|
|googl||ALPHABET INC.||1,538.37||14.86||+ 0.98%|
|FB||FACEBOOK INC.||234.50||1.21||+ 0.52%|
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FOX Business’ Suzanne O’Halloran contributed to this report.