Independent researchers painted a bleak picture of Apple’s China business during the most recent quarter, but the damage was lighter than expected.
Adding momentum to the market, Apple was able to exceed quarterly expectations for its fiscal second quarter and announced it would be increasing its dividend and stock buybacks.
Had it not been for the substantial earnings contribution from the Mag 7, Q1 earnings growth for the rest of the S&P 500 index would be in negative territory. Now, we await Nvidia.