Apple Flirts With $1 Trillion Market Cap After Strong Earnings Report

Latest iOS 12 Beta Further Points to Dual-SIM Support for 2018 iPhones

Analysts were looking for 41.6 million iPhone units in the quarter, and an average selling price of US$699, according to estimates compiled by Bloomberg News. In fact, one out of every four iPhone units sold in the quarter was the tenth anniversary model.

There are lots of things to expect from Apple's upcoming quarterly earnings to stay tuned for the latest. The company took in $53.3 billion in revenue, up 17% year-on-year, and made $12.6 billion in operating income, also up about 17% year-on-year. In a note ahead of earnings, Andy Hargreaves of KeyBanc Capital Markets said that the "the risk of a direct impact from trade conflicts or increased nationalism among foreign consumers that damages global iPhone demand" might offset potential gains for Apple.

"We're thrilled to report Apple's best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth", said Tim Cook in a statement.

The company sold 41.3 million iPhones in its third quarter, generating revenue of US$29.9 billion.

Apple (NASDAQ:AAPL) posted the strongest third quarter in the company's history since it managed to beat analyst expectations for earnings per share and revenue. Profit came in at US$2.34 per share. But analysts expect that Apple will release three new models in the fall, to diversify its offerings and convince those who did not upgrade to the iPhone 8 or the iPhone X that it's time to buy a new phone.

Willian transfer: No Real Madrid bid as passport issue delays Chelsea return
Speaking to Brazilian TV show, Esporte Espetacular, when asked this week if he was leaving Chelsea , Willian said: "No, I'm back to England".

CBS Weighs Moonves Suspension Over Assault Claims
CBS's share price saw a small spike at the board announcement about Moonves, which came just before the market closed. News of those discussions and the board's plans for Monday were reported earlier by the Wall Street Journal .

Powerful 6.4-magnitude quake strikes Indonesia: USGS
Local news Metro TV reported that people were still sleeping when the first quake hit and they quickly fled their houses in panic. Indonesia is located on the geologically active Pacific Ring of Fire and regularly experiences earthquakes and volcanic activity.

Apple's biggest selling products do not yet face duties stemming from the US-China trade disputes, but President Donald Trump has threatened hundreds of billions of further tariffs whose product categories have not yet been enumerated. Along with various online TV, news and publishing, gaming and cloud-hosting services, Apple is targeting $50bn in annual services revenues by 2020. That's in line with the company's recent forecast and translates to year-over-year revenue growth of about 15 percent, the strongest for Apple's June quarter since 2015.

Gross margin for the quarter was 38.3 percent compared to 38.5 percent in the year-ago quarter, with global sales accounting for 60 percent of revenue. But Apple and Samsung are also eyeing other areas of their businesses for growth.

Also drawing positive scrutiny are Apple's "other products" which includes AirPods earphones and HomePod speaker systems.

Apple said the average selling price of the iPhone had risen to more than $US700 in the quarter, showing that each customer is paying more for the company's gadgets.

Apple is looking at whether it will be hit by tariffs on purchases the company must make, possibly "related to data centers", Cook said on a conference call with investors.

Related news:

Hot News

isis-killer-beheading-video-story-top A Bryce Harper Trade Was "Lined Up" On Monday Night
Aug 01, 2018 - 02:59
The Nationals are struggling just to stay in the playoff hunt at 52-53, 5 1/2 games back in both the NL East and the wild card. Then, General Manager Mike Rizzo, who said he went sleepless Monday night, sent a text message to The Post.

Matteo Darmian: I want to leave Man Utd
Aug 01, 2018 - 02:47
Mourinho - who having guided United to Europa League and League Cup success in his first season - delivered nothing last term. I really don't like that. "I agree totally with the window closing at the same time as the Premier League starts".

North Korea appears to be building new ballistic missiles
Jul 31, 2018 - 15:46
Interested in North Korea? "Similarly, we independently found the enrichment plant at Kangson". Pompeo said last week that North Korea was continuing to produce fuel for nuclear bombs.

isis-killer-beheading-video-story-top No rigging in first election since end of Mugabe rule, official says
Jul 31, 2018 - 15:17
President Mnangagwa is on record saying Zimbabwe had come of age politically and had nothing to hide to the outside world. At one stage, he was seen taking his head out of the voting booth to check where he should put his cross on the ballot.

isis-killer-beheading-video-story-top Calls for fresh elections in Pakistan amid rigging claims; United States criticizes 'flaws'
Jul 31, 2018 - 14:48
On the other hand, Imran said in a post-election press conference that he wanted a "balanced relation" with the US. The preliminary official results of the July 25 elections for the Pakistan parliament have now been announced .

John Isner reaches Atlanta Open semifinals for 9th straight year
Jul 31, 2018 - 14:26
I've been playing a lot of important matches lately - winning a round in Rome, my first match at a Slam and more. Isner, who is ranked No. 9 in the world, will seek his second title of the season and the 14th of his career.

isis-killer-beheading-video-story-top LeBron James' "The Shop" will debut on HBO in August
Jul 30, 2018 - 22:57
James added that The Shop was partly inspired by his experience as a kid listening to adults in barbershops "talk about sports, clothing, politics, music" and everything else.

isis-killer-beheading-video-story-top Meeting with USA official ended with positive signals: Taliban
Jul 30, 2018 - 22:46
However, according to the New York Times , the US State Department did not deny that its diplomats had taken part in any talks. They added that there were "very positive signals" from the meeting, and that it was held in a "friendly atmosphere".

isis-killer-beheading-video-story-top Police say 3 killed, 7 injured in New Orleans shooting
Jul 30, 2018 - 22:00
The New Orleans police department responded to the incident on Saturday evening about three miles from the French Quarter. The other six were in various conditions, but none of them had injuries that were believed to be "life-threatening".

isis-killer-beheading-video-story-top Tech Podcast: Zuckerberg's riches take a hit as Facebook stock plunges : Bulletin
Jul 30, 2018 - 21:29
There are more than 2.5 billion active users of Facebook that provides unique value for investors as well as advertisers. After a surprisingly weak growth forecast in this week's earnings report, Facebook's stock price dropped 19 percent.

isis-killer-beheading-video-story-top India leaves 4 million off Assam citizens' list, triggers fear
Jul 30, 2018 - 20:27
The NRC is a list of the state's citizens and exclusion of name does not automatically make anyone a foreigner, the official said. The chief minister has also directed the officials not to refer any case to the Foreigners Tribunal based on the NRC draft list.

isis-killer-beheading-video-story-top Newcastle in talks for West Brom striker Salomon Rondon
Jul 30, 2018 - 20:25
The Japanese global is set to arrive in England as he undergoes a medical ahead of a proposed move to St James' Park this summer. Reports have claimed that West Brom are looking for a fee in the region of £16m for Rondon.

isis-killer-beheading-video-story-top Attorney General Jeff Sessions, House leadership defend Rod Rosenstein against impeachment threat
Jul 29, 2018 - 00:05
Trump has fumed about Mueller's probe and has repeatedly called it a "witch hunt", a refrain echoed by some of the lawmakers. Gowdy said after the meeting that he was pleased with the department's efforts.

isis-killer-beheading-video-story-top Carr Fire: Park employees save 50 vulnerable animals by taking them home
Jul 28, 2018 - 04:40
A firefighter from the city of Redding was killed as a result of the Carr Fire , California officials said in a statement Friday. The Sundial Bridge, which stretches over the Sacramento River to connect with the park, was also closed as of Friday morning.

isis-killer-beheading-video-story-top Oil jumps after Trump warns Iran of grave 'consequences'
Jul 26, 2018 - 21:33
Bolton - one of Trump's two top foreign policy advisors - is believed to be the US President's lead man on Iran. Pompeo said the Iranian government resembled a "mafia".