What you need to know
- Apple's share price has jumped significantly in pre-market trading.
- Share prices are up to around $322, buoyed by Apple's record-setting Q1 2020 results.
- That means Apple's market valuation is nearly $1.4trn, more than Germany's entire DAX index.
Apple's share price has jumped in pre-market trading, pushing Apple's market cap value past that of Germany's entire DAX index.
Yesterday, January 28, Apple revealed its Q1 2020 earnings, in which it brought in a record-breaking $91.8 billion, its biggest-ever quarter. Buoyed by the incredible results, and optimistic guidance for Apple's next quarter, Apple's share price has jumped significantly in pre-market trading.
AAPL closed at $317.60, climbing nearly $9 in advance of the earnings call yesterday, January 28. Now, following Apple's Q1 2020 earnings announcement, shares have climbed even higher in pre-market trading, peaking at $325 and currently holding at around $322.
As Proactive notes, that new valuation means that Apple's market cap value sits at just shy of $1.4 trillion, which would make it more valuable than Germany's entire DAX index, a listing of the 30 largest companies in the nation including Deutsche Bank, BMW, and Lufthansa. Germany's DAX is reported to be worth a total of around $1.36 trillion.
In its earnings call, Apple reported record-breaking revenue and double-digit growth in several of its global markets across many different sectors. Apple also announced that its wearables, home, and accessories sector passed Mac in revenue for the first time ever. Apple also enjoyed strong iPhone performance, revealing that the iPhone 11 was its best selling smartphone every week of the quarter.
If you didn't manage to catch the earnings call yesterday, you can see exactly what was said here, in our full transcript!