US Markets Chop but Apple Soars after market Unveiling a Record-Breaking USD$110 Billion Buyback


US equities ended their two-day slide as tech companies surged late in the session. The trading day has been choppy, with Wall Street now turning its attention to Apple's earnings after the bell.

And did Apple not disappoint. After hours when AAPL not only reported blowout earnings but unveiled a massive, record-breaking USD$110 billion stock buyback program (because when your best product is the 3 kg neck brace known as the Vision Pro you have no choice but to buy your own stock since nobody else will do it for you) which sent the stock soaring after hours.

AAPL up 6.2% in after hours trade.

A lack of innovative new devices has contributed to slow sales at Apple, but the company looks to begin fixing that on May 7. That’s when it plans to unveil new iPads — the first updates to its tablet line in 1 1/2 years.

But wait there's more: the iphone maker also is planning a long-awaited push into generative artificial intelligence. In June, Chief Executive Officer Tim Cook is expected to lay out Apple’s AI strategy at its annual Worldwide Developers Conference.

To other news. If you have been wondering what has been keeping a lid on the Bitcoin price its the other word everyone must know and be aware of - Outflows.

BlackRock's ETF saw around USD$37 million in outflows for the first time, while the remaining spot Bitcoin ETFs collectively notched over USD$526.8 million in outflows.

Source: Bloomberg

Anyway - not much more worth reporting so Happy Friday and have a good weekend

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