“Apple shares jumped on Wednesday, putting the tech-giant closer to becoming the first company to reach a market value of $1 trillion,” Matthew Rocco reports for FOXBusiness. “The stock has already advanced 12% this year.”
“The rally followed the company’s quarterly report in which earnings and revenue came in better-than-expected, as iPhone sales climbed and revenue from services like the App Store hit a record high,” Rocco reports. “Apple has benefited from higher iPhone prices following the introduction of the range-topping iPhone X, which starts at $999. The average selling price of an iPhone came in at $724 in the company’s fiscal third quarter, more than Wall Street’s estimate of $694, according to FactSet.”
“Apple’s fourth quarter will benefit from early sales of new iPhone models,” Rocco reports. “Analysts believe Apple will introduce at least three iPhones in the fall, including devices that target users looking for cheaper options.”
Read more in the full article here.
MacDailyNews Take: Soon.
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