Apple Stock Rallies to Record $300.92 on Strong Q2, $100B Buyback
AAPL•Apple shares rose 1.4% to an intraday high of $300.92 on May 13, closing at $298.87 after second-quarter results beat estimates. The company forecasted 14%–17% sales growth for Q3 and authorized a $100 billion share repurchase, fueled by strong iPhone, Mac and services demand and upcoming AI features.
1. Record Share Price
On May 13, Apple shares climbed 1.4%, reaching an intraday high of $300.92 before closing at $298.87, marking an all-time peak that contributed to broader technology sector gains.
2. Strong Q2 Results and Q3 Outlook
Fiscal second-quarter revenue and earnings per share exceeded Wall Street estimates, bolstering confidence as management forecast 14% to 17% sales growth for the third quarter driven by continuing demand for the iPhone 17 lineup, Mac computers and services.
3. $100 Billion Buyback Plan
The board approved an additional $100 billion share repurchase authorization, expanding Apple's aggressive capital return strategy aimed at supporting the stock price and enhancing shareholder value over the coming years.
4. AI Features and Hardware Upgrade Cycle
Investors are positioning for Apple's next wave of artificial intelligence enhancements and hardware upgrades, which analysts expect will drive a multiyear device replacement cycle and sustain revenue momentum beyond core product refreshes.
