APPLE OFFICIALLY BECAME the world’s first trillion-dollar company on Thursday.
Apple hit the $1tn mark on Thursday afternoon when its stock passed $207.05 per share. This achievement comes on the back of its better-than-expected Q3 earnings, which saw the firm’s net income top $11.5bn on top $53.3bn in revenue, increases of 32 and 17 per cent, respectively.
While the company on Tuesday reported that MacBook sales were down and that iPad sales remained flat, the company saw the average iPhone selling price hit $724 in the third quarter, well above the expected $694.
This can be credited to the flagship iPhone X which remained Apple’s most-popular iDevice during the quarter, according to CEO Tim Cook, which bodes well Apple’s next-generation iPhones – the so-called iPhone 9, iPhone 11 and iPhone 11 Plus.
It’s not just iPhones that have helped Apple reach a market cap of $1,000,000,000,000, as the company’s Services unit, which includes sales from iTunes and the App Store, which saw sales increase 37 per cent to $9.5bn.
Apple’s ‘Other Products’ category, which tallies up sales of AirPods, HomePods and the Apple Watch, also had a bumper quarter with growth of 37 per cent. µ
Source : Inquirer