Apple has just reported a staggering $102.5 billion in revenue for its latest quarter, shattering expectations from Wall Street analysts. The tech giant's stock soared in after-hours trading as the news sent shockwaves through the market.
The new lineup of iPhones has been a game-changer, with sales skyrocketing worldwide. Despite China's smartphone market being slower than anticipated, Apple's fortunes remain on the rise. In fact, revenue from China, which had been lagging behind projections, is now on the rebound.
According to Tim Cook, CEO of Apple, the company's focus on its legacy products and services has yielded strong results. "Today, Apple is very proud to report a September quarter revenue record," he said. The success story doesn't end there, with forecasters predicting 10% to 12% growth in revenue for the quarter ending in December.
The slate of new iPhones, particularly the iPhone 17 and 17 Pro, has been a major driver of sales. However, some analysts are speculating that production of the ultra-thin iPhone Air may be reduced due to waning demand.
Meanwhile, Apple's lackluster performance in artificial intelligence has not seemed to deter investors. As Thomas Monteiro, senior analyst at Investing.com, noted, "while the market remains fixated on AI adoption and monetization, Apple proves that the old recipe still works – at least for another quarter."
The company's revenue growth is attributed to a better-than-feared global economy driving solid expansion. iPhone revenue did dip slightly below expectations but saw a significant increase in sales. The news has sent Apple's stock soaring over 50% since its low point in April, further fueling the tech giant's market value.
As other major tech companies report their earnings, including Microsoft and Alphabet, investors are taking note of Apple's impressive performance. With a market cap of over $4 trillion, the tech giant is now among an elite group of companies to achieve this milestone, joining Nvidia and Microsoft in the exclusive club.
The new lineup of iPhones has been a game-changer, with sales skyrocketing worldwide. Despite China's smartphone market being slower than anticipated, Apple's fortunes remain on the rise. In fact, revenue from China, which had been lagging behind projections, is now on the rebound.
According to Tim Cook, CEO of Apple, the company's focus on its legacy products and services has yielded strong results. "Today, Apple is very proud to report a September quarter revenue record," he said. The success story doesn't end there, with forecasters predicting 10% to 12% growth in revenue for the quarter ending in December.
The slate of new iPhones, particularly the iPhone 17 and 17 Pro, has been a major driver of sales. However, some analysts are speculating that production of the ultra-thin iPhone Air may be reduced due to waning demand.
Meanwhile, Apple's lackluster performance in artificial intelligence has not seemed to deter investors. As Thomas Monteiro, senior analyst at Investing.com, noted, "while the market remains fixated on AI adoption and monetization, Apple proves that the old recipe still works – at least for another quarter."
The company's revenue growth is attributed to a better-than-feared global economy driving solid expansion. iPhone revenue did dip slightly below expectations but saw a significant increase in sales. The news has sent Apple's stock soaring over 50% since its low point in April, further fueling the tech giant's market value.
As other major tech companies report their earnings, including Microsoft and Alphabet, investors are taking note of Apple's impressive performance. With a market cap of over $4 trillion, the tech giant is now among an elite group of companies to achieve this milestone, joining Nvidia and Microsoft in the exclusive club.
they r crushin it with them new iphones & ppl r goin wild 4 dem! 
china s market was supposed 2 b slower but now its back on track 
tim cook's strategy r clearly workin out 
i mean who needs ai when u got a sick iphone lineup 
? 
investors are so in it 2 
& now apple's stock is thru the roof 
w/ a market cap of $4 trillion they r officially part of the exclusive club 
just think about it, Apple's revenue has surged by like 50% in less than a year 
I mean, the new lineup is fire 
, especially the iPhone 17 Pro. And China's market is making a comeback 
, that's huge news for Apple. I'm loving the "old recipe still works" vibe from Thomas Monteiro 
it's like, sometimes you just gotta stick with what you know and make it work 
. And $102.5 billion in revenue? wild 
shouldn't we be seeing more innovation there? still, for now, it seems like investors are happy to just ride the Apple wave 
. The new iPhone lineup is on fire 
. I'm also loving the fact that Apple's legacy products and services are driving growth - it shows they're not afraid to stick with what works 
. But seriously, 10% to 12% growth in revenue? That's insane 
. The fact that investors are still bullish on Apple despite some concerns about the iPhone Air production is music to my ears 
. Bring it on, Cupertino! 
They really smashed expectations 
and are back on track 
. The China market is also bouncing back 
.
and investors aren't worried about their AI game 
. Microsoft, Nvidia, and Alphabet better watch out 
as Apple is now in the big league club 
!
.
.
and it made me think about how much I love exploring new places... but anyway, Apple's earnings are insane! $102.5 billion is crazy 
.