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