Strong iPhone sales propel Apple’s fiscal Q3 results
Apple has posted a solid fiscal third quarter, climbing past Wall Street’s expectations thanks to strong sales of the iPhone and MacBook computers.
Apple raised the prices of its Macs and iPads last month, citing a memory-chip shortage brought on by the artificial intelligence boom. The company had called the demand spike an “unprecedented challenge” for the consumer electronics industry. While it hasn’t yet raised iPhone prices, analysts and consumers expect that to happen later this year.
The maker of the iPhone and iPad said on July 30 it earned $29.79 billion in the April-June period. That is up 27 percent from the same period a year earlier.
Revenue grew 16 percent to $$109.42 billion from $94.04 billion.
