Apple's Record Cash Hoard Fuels Further Upside

Apple's stock price continues to climb above consensus target, reaching $341.07. Despite already trading above Wall Street's expectations, analysts are being forced to re-evaluate their targets due to Apple's substantial cash position.

The company's net cash cushion stands at around $63 billion, with a total debt of $84 billion and cash and marketable securities of $147 billion. This has led to a 16.36% revenue growth in the June quarter, with EPS beating expectations at $2.02.

Apple's Services business is also performing well, generating around $30 billion per quarter. The company's active installed base exceeds 2.5 billion devices, and its iPhone and Mac sales are doing 'remarkably better than we thought they would do,' according to Tim Cook.