Sandisk, Verizon Rise after Earnings, Apple Fluctuates | Stock Movers

Today's biggest winners and losers in the stock market.

On this episode of stock movers:

-Apple (AAPL) shares are little changed after the tech giant delivered record quarterly sales and a better-than-anticipated forecast for the current period, even as the company warned that rising component costs are threatening to squeeze margins. Revenue will rise 13% to 16% in the second quarter, which runs through March, the company said Thursday during a conference call with analysts. That exceeded the 10% projected by Wall Street — showing that Apple can maintain momentum after an iPhone-fueled sales surge in the December quarter.

-Sandisk (SNDK) shares rally after the computer hardware and storage company’s second-quarter revenue beat expectations. The company said it sees adjusted earnings per share between $12 and $14 in the third quarter. Wall Street had expected $4.95 a share, spurring several analysts to raise their ratings and price targets for the stock, which is up roughly 160% to start the year and around $1,600% since it went public last February.

-Verizon (VZ) shares rise after the wireless provider reported its biggest gain in mobile phone subscribers since 2019 and announced plans to buy back as much as $25 billion in shares, signaling turnaround efforts under new Chief Executive Officer Dan Schulman are starting to bear fruit.

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Sandisk, Verizon Rise after Earnings, Apple Fluctuates