All eyes were on Apple after the bell. Earnings came in just after 4:30 pm and the technology company beat on both revenue and earnings per share.
Apple reported earnings of $3.89 versus estimates of $3.86, and revenue was reported at $88.3 billion versus estimates of $87.3 billion. Tim Cook said, "iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped."
The company also reported a record $285.1 billion in cash reserves.
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Inflation-weary Americans are still spending money every month, but the April numbers show they’re starting to cut back on a few types of expensive purchases.
