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Apple’s Revenue Nears US$1 Trillion, Matching Earlier Expectations

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Published on : Aug 01, 2018

Apple is inching closer and closer to becoming a $1 trillion company today after posting third-quarter results that beat what analysts were expecting. With this, their stock has increased with a few percentage points, and by Apple standards, this is certainly about tens of billions of dollars.

More Details About Apple’s Phenomenal Revenue Growth

Yesterday, the company’s stock was up by about 2.5 percent this afternoon after the report, which closed with a market cap of around $935 billion. This rise makes Apple add nearly $20-plus billion income to its market cap. Until last year, numerous reports did suggest that Apple was actually capable of reaching the $1 trillion mark; the company certainly did not disappoint market analysts, and is now almost headed to reach this dream-come-true bull’s-eye. With its usual new lineup of iPhones and other products, the current quarter surely marks Apple’s most important one.

In terms of revenue, Apple has now generated about US$53.3 billion, which is up by 17 percent year-over-year compared to the expectations pegged by analysts last year that was put down at $52.34 billion. The company’s earnings are at US$2.34 per share. With an average iPhone selling price of US$724 for its most popular product, the company has earned about US$41.3 million. This is an increase of 1 percent, which is highly close to what analysts had anticipated. For iPads, the earnings tallying at nearly US$11.55 million were registered, which is up by 1 percent year-over-year. This is followed by the Mac computers accumulating growing at 3.7 million, which have though shown a 13 percent decrease in their sales. When it comes to services, about US49.6 billion has been the company’s achievements that has increased by a whopping 31%. Finally, in terms of its other products, Apple has now earned revenue worth US$3.7 billion, which too has been an impressive growth measured at 37 percent year-over-year.