Apple Posts Record June Quarter on 22% iPhone Revenue Surge
AAPL sits 59% above its 52-week low of $201.5.
Summary
Apple delivered its strongest fiscal Q3 ever, with iPhone revenue jumping 22% to $54.3B and total revenue up 16% to $109.4B. Every geographic segment grew double digits, including a 22% rise in Greater China to $18.8B, defying recent concerns about a 19% iPhone shipment drop in May and a 6% single-day plunge in late June on China fears. Services also hit a record $30.7B, and Mac sales were particularly strong in Greater China, with the MacBook Neo being especially popular. CEO Tim Cook highlighted record 3Q sales despite supply constraints and FX headwinds, and expressed being thrilled with early response to Siri AI. Apple gained smartphone share globally during the quarter, suggesting the AI-driven upgrade cycle may be gaining traction ahead of the iPhone 17 launch.
At the time of this announcement, AAPL was trading at $320.35 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.9T. The 52-week trading range was $201.50 to $344.57. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.