Options Market Statistics: Apple Stock Soars Post-market on Strong Earnings, Major Buyback, Options Pop

A confidential risk-management study prepared by Citigroup and reviewed by the Federal Reserve indicates that the bank could face significant losses if global climate change mitigation efforts intensify. According to a report seen by Reuters, Citigroup's loan book might incur a $10.3 billion loss over 10 years if greenhouse gas emissions are reduced to net zero by 2050. If the net zero target is postponed beyond 2050, the potential loss is estimated at $7.1 billion on its $730 billion wholesale loan book. Citigroup did not comment on the Reuters report but referenced a March report which acknowledged the utility of the Fed's exercise in identifying potential vulnerabilities in its loan portfolios, though it did not specify any projected loss amounts.

Apple's stock rose in after-hours trading as the company's March quarter earnings report was better than market expectations. Revenue was $90.8 billion, a 4% decrease from the previous year but still above the forecasted $90.5 billion. Profits hit $1.53 per share, narrowly surpassing the predicted $1.51. Despite a challenging year that saw Apple shares drop around 10% in 2024, the company anticipates a return to modest revenue growth in the June quarter.

iPhone sales, which represent over half of Apple's revenue, fell 10.5% to $46 billion amid competition and weaker demand in China. iPad revenue also declined by 16.7% to $5.6 billion, falling short of the $6.9 billion estimate. Apple CEO Tim Cook discussed the company's investment in generative AI and hinted at upcoming innovations, emphasizing Apple's strengths in hardware, software, and privacy. An event on May 7th is expected to reveal new iPad models, the first update since 2022.