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Apple to pursue 'Augmented Reality' while earnings continue to increase

03 August 2017

Sell-through was stronger, as the company reduced iPhone channel inventory by 3.3 million units.

Apple (aapl) sold 1% more Mac computers than it did a year earlier, even as the overall PC market shrunk about 4%.

However iPad sales jumped from 10 million to 11.42 million, a real boost for Apple's tablet business which has in the past been accused of stagnating.

It was seen as particularly impressive given the fact its new iPhone 8 and 7S models are expected to be released in September, despite doubts that weak availability of key chips could hit the launch.

Net profit rose to $US8.72 billion, from $US7.80 billion, or $1.42. As of late July, Apple was at risk of falling out of the top 5 smartphone vendors in China, according to data from Canalys. Further increase in earnings is expected as Apple continues to enjoy increasing demand for iPhones, iPads, and Mac.

The "Other" categories of products rose by 23% to $2.74 billion.

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The company said it sold 41.026 million iPhones in the quarter, up 2 percent from a year ago when it sold 40.4 million iPhones.

The news sent its stock surging more than 6% in after-hours trade.

He also said that Apple fought the United States government past year over unlocking an iPhone belonging to a dead terrorist because the legal circumstances were different.

Luca Maestri, Apple's chief financial officer, said Apple's App Store "was a major driver of this performance, and according to App Annie's latest report it continues to be by a wide margin the prefered destination for customer purchases, generating almost twice the revenue of Google Play".

Here's another story line we weren't necessarily expecting: the iPad is growing again.

Apple's Services revenue set a record with $7.3 billion in income, an increase of 22 percent from a year ago.

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Tim Cook, Apple chief executive, told analysts iPad sales to schools and other educational institutions had risen 32 per cent to 1m units.

Apple also said that for its current, fiscal fourth quarter, it expects revenue to be in a range of $49 billion to $52 billion.

If you look across the world, we had several markets in Asia, in Latin America, and the Middle East which grew more than 25 percent year on year.

One of the big worries for investors - and Apple fans, you'd imagine - is that concern that the next iPhone, due in September, could be delayed due to production issues.

Apple reported improved sales growth in its fiscal third quarter to June, with revenue up 7 percent to United States dollars 45.41 billion, at the top of its forecast range.

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Apple to pursue 'Augmented Reality' while earnings continue to increase