The pandemic and iPhone SE have made Apple even richer

Apple reported iPhone sales some $4bn above analysts expectations

Apple reported iPhone sales some $4bn above analysts expectations

They are now trading at $380 per share. However, sales began to pick up in May and June when retail stores began to reopen.

Services revenue rose nearly 15% to $13.2 billion over last year's $11.45 billion.

In the meantime, the pandemic isn't stopping people from buying existing iPhones. When asked why Apple is switching from Intel chips in its Macs, Cook said Apple silicon "gives us interesting things we could do in products, it sort of unleashes another wave of innovation".

Apple's expert services earnings, which consists of items like the App Shop and Apple Songs, helped the company, though iPad sales also shot up.

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Apple has confirmed that the iPhone 12 release date will be delayed until at least October after coronavirus lockdowns disrupt the global supply chain. There were rumours of launching an iPad Pro with a mini-LED display but new reports suggest that the launch of this iPad has been pushed to 2021. The company plans to launch new Mac computers with its own processors, a cheaper HomePod, and a slew of new iPhones later this year.

When asked to clarify his comments, Maestri said, "I said in my remarks that a year ago we launched new iPhone in late September".

The Cupertino, California-based technology giant didn't provide guidance again due to the ongoing impact of COVID-19.

The results, which included iPhone sales some $4bn above analysts' expectations, came on the same day that the United States Bureau of Economic Analysis reported that gross domestic product collapsed at a 32.9 percent annualised rate last quarter - marking the nation's worst economic performance since the Great Depression of the 1920s.

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Starting with the iPhone, which saw a decrease in sales last quarter, Apple revealed revenue for that product category grew by two percent during the third quarter. (Everyone else calls that period Q2.) Just look at the numbers in red on the charts to see the most important figures.

Cook said some services, including AppleCare repairs and advertising, were negatively impacted by the pandemic. "And companies set a new June quarter history there", Prepare dinner said on the earnings simply call.

Earnings per share: $2.06 expected versus $2.18 in Q3 2019.

Apple Services (includes iCloud & Apple Music) generated $13.1 bn in revenues this year.

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