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While enthusiasm for new iPhones from Apple Inc. has helped push the company’s stock price to record highs, a nearly 40-year-old workaholic with stagnant sales in recent years is experiencing impressive growth: the Mac.
Sales of the computer line rose 29% in the last quarter to a record $ 9 billion. Apple has seen huge interest in many of its products, from iPads to headphones, as students and workers stay home due to the coronavirus pandemic.
At 1 p.m. EST, the Mac lineup will experience its biggest shake in years, with the planned introduction of laptops with Apple’s own chips, a technology supposed to give devices faster performance, better battery life. battery and, perhaps, greater benefits. The event will be streamed from Apple’s website.
The success has sparked new enthusiasm among investors, such as Daniel Morgan, a senior portfolio manager who focuses on technology at Synovus Trust Co., which counts Apple among its biggest holdings.
“A product that was once considered a dinosaur in the Apple product line has gained new life after the pandemic hit the work-from-home movement,” Morgan said. After years of stable sales, “the Mac has become a major engine of growth.”
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