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Apple shares rise on strong quarterly sales in run-up to CEO change

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Apple shares rise on strong quarterly sales in run-up to CEO change

Tech giant’s influence over suppliers could position it better than rivals in securing memory chips, analysts say

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The Globe and Mail
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Open this photo in gallery:An Apple store in Austin, Tex.Brandon Bell/Getty ImagesShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountApple AAPL-Q shares jumped 3 per cent in premarket trading on Friday after the iPhone maker posted its strongest quarterly sales growth in more than four years, a show of momentum as it prepares to hand over the reins to a new CEO.Its latest iPhone 17 Pro series and the newly launched low-cost MacBook Neo laptop are both drawing buyers at a time of low overall demand in the consumer electronics industry due to price hikes forced by the memory chip shortage.

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