Apple share price jumps 6% as Q2 earnings, forecast beats estimates; unveils record $110 billion share buyback

News Snapshot:

Apple share price surged 6% in extended trade on Thursday after the iPhone maker reported quarterly results and forecast above expectations. Apple also unveiled a record $110 billion worth share buyback program, the largest in its history. Rally in Apple shares lifted its stock market value by over $160 billion, Apple’s revenue for the fiscal second quarter fell, but less than analysts had expected. Its revenue fell 4% to $90.8 billion, beating the average analyst estimate of $90.01 billion, according to LSEG data. For Apple’s current quarter, CEO Tim Cook told Reuters the iPhone maker expects “to grow low-single digits"...