Ahead of June quarter earnings, Apple’s stock passes $100 for the first time in six weeks

Apple Stores (Istanbul, Turkey, image 001)

Shares of Apple have passed the psychological important barrier of a hundred bucks per share ahead of the company’s ahead June quarter earnings report, which is scheduled to take place next Tuesday, July 26. This marks the first time Apple’s stock price broke the $100 mark in six weeks after the stock plunged below $90 following weaker-than-expected iPhone sales, CNBC tweeted this morning.

Apple shares have been more or less declining, especially after the Cupertino company reported its first quarterly revenue drop since 2003 and first iPhone sales drop last quarter. Last year, $AAPL reached its peak at around $132.

For the June quarter, Apple’s guidance includes a revenue of $41 to $43 billion and gross margin between 37.5 and 38 percent. Operating expenses are projected to fall between $6 billion and $6.1 billion.

Source: CNBC