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Apple Inc.'s sales led by the expensive iPhone X pushed the quarterly results well beyond Wall Street's goals Tuesday, with App Store, Apple Music and iCloud subscriptions strengthening the business.
Expectations for the fall, when he typically launches new iPhone models, rebaduring a nervous tech sector that saw sales last week in Facebook Inc., Twitter Inc. and Netflix Inc. on concerns about their growth future.
Samsung Electronics Co Ltd missed targets for its flagship product Galaxy S9 and Huawei Technologies Co Ltd in China took second place in global smartphone sales.
Apple also regained growth in China, where sales increased 19%. Sales plummeted in 2016 after Chinese consumers avoided the iPhone 7, whose overall appearance differed little from that of its predecessor.
And a $ 20 billion stock repurchase during the quarter resulted in the buyout of Apple this year. $ 43 billion and surpbad the market value of nearly three quarters of the S & P 500's businesses. "The lesson that the direction of Apples has drawn from the iPhone X, is when you sell a smartphone for more than $ 1,000. "Reap further financial benefits," said badyst Thomas Forte of DA Davidson & Co.
shares rose 3.7 percent in extended trading to $ 197.34, a record-setting market capitalization at $ 954 billion. The title is expected to hit $ 206.49 for Apple to become the first publicly traded US company to break through the $ 1 trillion threshold, based on the number of Apple's shares in the market. end of the quarter. Apple has been able to reduce its number of actions since then.
Apple sold 41.3 million iPhones in the third fiscal quarter, half a million less than expected, but the average selling price of the iPhone exceeded expectations of 30 euros. Luca Maestri, Apple's chief financial officer, told Reuters that his customers were buying more expensive models and that the $ 999 iPhone X was the best seller of the quarter.
Apple posted a turnover of 53.3 billion and a profit of 2.34 and Thomson Reuters I / B / E / S.
also expects revenues of the order of $ 60 to $ 62 billion for its fourth fiscal quarter, which will include anticipated sales of Thomson Reuters I / B / E / S data, announced phone models would exceed badysts by $ 59.6 billion.
James Cordwell, an badyst at Atlantic Equities, said that high selling prices could cause some concern because "there is a limit to how much Apple can grow the iPhone franchise by pushing the price."
Apple's services include streaming music and video, where Apple faces competition from rivals including Spotify Technology SA nd Netflix. But many Apple services do not face strong rivals. Maestri told Reuters that Apple Care sales, the company's guarantee offering, were up 27 percent from last year.
Hundreds of billions of other tariffs whose product categories have not yet been enumerated.
Apple is trying to find out if it will be hit by rates on purchases that the company must make, possibly related to data centers, said Tim Cook's call with investors. He credited "wearables", a category that includes wireless headphones and the Apple Watch, with increasing contributions, and the watch could be hit by the rates. Maestri told Reuters that Apple could not keep up with demand for AirPods headphones.
Service revenues were $ 9.5 billion, exceeding badysts' expectations by $ 9.1 billion, according to Thomson Reuters I / B / E / S. millions of dollars in dispute resolution such as Apple's long-standing dispute with Samsung Electronics Co Ltd.
Apple executives pointed to the recurring nature of much of this turnover. This includes both Apple's services such as music and third-party subscriptions such as Netflix, where Apple takes a share of revenue when it handles billing.
Cook said that Apple Music had more than 50 million users. and hints at the company's video content efforts. Apple hired leading Sony Corp. television executives and began making offers for content like a drama series with Hollywood stars Reese Witherspoon and Jennifer Aniston
Apple has not yet said how it will distribute these shows, but Cook said that Apple is "thrilled that our pipeline has new services."
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