AAPL Stocks Soar on Strong Q3 Revenue Guidance

Apple's stock price surged by 4% after hours on Thursday as the company released strong Q3 revenue guidance, exceeding expectations. The iPhone maker forecasted a 14-17% jump in revenue for the quarter ending June 2026, far surpassing analyst estimates of 9%. This comes as Apple faces a memory chip shortage, with demand outpacing supply due to increased requirements for running AI agents.

Despite the challenges, Apple's China sales offset weakness in America and Europe, with revenues driven by new product launches such as the low-cost MacBook Neo and iPhone 17e. The company also announced a $100 billion share buyback and declared a cash dividend of $0.27 per share, a 4% increase.

CEO Tim Cook warned that memory costs will be significantly higher in the upcoming quarter, but the strong Q3 guidance has bolstered investor confidence in Apple's resilience to chip shortages. The stock has lost only 0.2% year-to-date.