Apple has surpassed its third-quarter earnings projection by $ 1 billion with revenue of $ 53.4 billion. This is the strongest third quarter of the company ever. All of this is despite the slowdown of iPhone sales as consumers expect new smartphones this fall. Research and analyst estimated the average selling price of iPhone to be $693, and the actual price was $724.
The iPhone maker is expecting revenue of $60 to $62 billion in Q4 –a 16 to 19 percent growth with respect to last year. The strong forecast is a clear indicator that new hardware is coming this fall. Rumors suggest that there will be three new iPhone models coming up this year. Also, it is anticipated that a new version of iPad Pro and a redesigned Apple Watch will come. CEO Tim Cook said that they will “continue to provide different iPhones ….for folks to meet their needs.”
The stock prices are increasing, making Apple closer to trillion-dollar market value.
Even without the three new iPhones, the 2018 MacBook Pro with a third-generation keyboard will be the part of next quarter’s revenue. We can also look at last year’s announcement. Apple announced three iPhones but only iPhone 8, and iPhone 8 plus was accounted in Q4. The reason is the launch of iPhone X in November.
Ever since the company has confirmed that MacBooks with first and second generation keyboard were faulty, sales went down. Last month, it called for all the MacBooks for a repair program. The program covered MacBooks bought four years ago. However, the repair did not make use of any third generation keyboard components.
Apple’s service department (Apple Music, iCloud, and Care) has seen the largest revenue jump. The revenue increased by 31 percent to a record $9.55 billion. After today’s announcement, the company gets a market cap of $935 billion. If the stock continues to rise over 7 percent, then Apple may become the first trillion-dollar company with a price tag of $203.46 per share.