Apple posts record quarterly sales
Apple Inc. posted record quarterly sales on their official statement.
Devices that includes the Apple Watch, Apple TV, AirPods, Beats headphones, the HomePod and other items — produced $14.7 billion during the quarter.
- That was up 13% from a year earlier and above the average estimate of $14.2 billion.
- Sales climbed 11% to $123.9 billion in the fiscal first quarter, which ended Dec. 25, the company said Thursday, as profit beat projections.
- Apple generated $19.5 billion in services revenue in the first quarter, topping Wall Street expectations of $18.6 billion.
- The category grew 24% from a year earlier on strong App Store, Apple Music and iCloud subscription sales.
The company generated $71.6 billion in revenue from its flagship product, the iPhone, (beating Wall Street estimates of $67.7 billion)
Tech giant navigated the crisis and benefited from a flood of new products, including the iPhone 13, Apple Watch Series 7 and updated Macs.
“Supply-demand was largely in balance by quarter end, and China shipments were strong,” Mr. Sacconaghi, analyst from Bernstein argues on his post
*The stock gained 34% in 2021
