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Wednesday, 04/23/2014 8:16:22 PM

Wednesday, April 23, 2014 8:16:22 PM

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Apple Reports Second Quarter Results
Date : 04/23/2014 @ 4:30PM

Strong iPhone Sales Drive Record March Quarter Revenue and 15 Percent EPS Growth
http://ih.advfn.com/p.php?pid=nmona&article=61938569


Apple Reports Higher Profit, Stock Buyback -- 3rd Update

Apple Inc. reported a 7% increase in quarterly profit, amid intensifying competition for mobile devices, and announced increases to its stock buyback and dividend programs.

Chief Executive Tim Cook said the company chose to expand its stock-buyback program by $30 billion because it views the company's shares as undervalued.

"That should show you how much confidence we have in the future of the company," Mr. Cook said in an interview with The Wall Street Journal.

During the interview, Mr. Cook also reiterated plans for new product categories this year and said that the company remains on the prowl for acquisitions.

Apple on Wednesday raised its share repurchase authorization to $90 billion from the $60 billion level announced last year. The company also lifted its quarterly dividend by about 8% and said it would split its stock 7-for-1 in June.

http://ih.advfn.com/p.php?pid=nmona&article=61939995

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