Apple Posts Record Revenue in Q3 2022; Inches Closer to Trillion-Dollar Market Cap

The race to get the get-go-ever trillion-dollar company just intensified equally Apple tree today posted its best-always revenue in Q3 2018. The Cupertino giant has posted strong earning numbers and once more managed to vanquish market estimates.

Apple has reported a revenue of $53.3 billion in the third quarter, which is a 17% growth yr-on-twelvemonth and $one billion over analyst predictions. The earnings per share (EPS) stood at $ii.34, significantly college than the market estimate of $ii.xviii earnings per share.

iPhones Selling Similar Hotcakes

The third quarter is usually expected to exist the weakest for Apple, as we witness a slow downwardly in the sales due to the expected launch of new iPhones and other hardware products launching in the adjacent couple of months. Users become wary of picking up a current-gen iPhone when an upgrade is right around the corner but this was not the example this time around.

The average selling toll of an iPhone stood at $724, which is also better than the $693 annotator estimates.

While iPhones may still be attracting attention, the Macs were down in the dumps. Mac sales only brought in $three.7 billion in revenue, which is well below analyst estimates and a thirteen percent decline when compared to the same quarter from the previous twelvemonth. This decline could be considering of the endless problems with the new Butterfly mechanism of the MacBook Pro, which were fixed just recently.

Speaking of the third quarter earnings, CEO Tim Cook said, 'We're thrilled to report Apple's all-time June quarter ever, and our 4th consecutive quarter of double-digit revenue growth. Our Q3 results were driven past continued stiff sales of iPhone, Services, and Wearables, and we are very excited about the products and services in our pipeline.'

The services business concern, which includes Apple Music, iCloud, and Apple tree Care, saw a hefty 31% year-on-year uptick to deliver a $nine.55 billion in revenue in the third quarter concluded in July 2018. Apple tree Music U.Southward subscriber base recently swelled by Spotify and a larger number of users accept picked up Apple tree Care to ensure the prophylactic of their all-glass iPhones.

Even the revenue from its 'other products' department, which includes the Apple Spotter, HomePod, Airpods, and more, surged 37% to reach a hefty $3.74 billion as compared to the $ii.74 billion figure from the same quarter last twelvemonth. Cook states that the wearable segment has seen a pregnant 60% yr-on-twelvemonth growth during the analyst call after the earnings call.

Trillion Dollar Milestone?

The amazing Q3 2018 earnings call has led to a significant leap in the visitor's share price in afterward-hours trading. The toll jumped close to 4 percentage points, pushing the share price closer to the $200 indicate while adding tens of billions of dollars to Apple's valuation.

Apple'due south market capital currently stands at around $935 billion, but the Cupertino behemothic is expected to affect the magical trillion dollar mark when its share price reaches $204. And that could shortly become a reality as Apple is scheduled to release a trio of new iPhones, a MacBook Air refresh, and other new hardware products.

This is also the reason that the Cupertino behemothic expects to post a acquirement close to $sixty-62 billion in the fourth quarter, a 16 to 19 percent growth from this period concluding year. So, how soon do you recollect Apple tree tin reach a trillion dollar market cap? Well, I retrieve it can surely happen this calendar month itself merely I would love to hear your thoughts in the comments as well.

Source: https://beebom.com/apple-q3-2018-revenue-trillion-dollar-market-cap/

Posted by: bradybutent.blogspot.com

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