More than 14 years after they were first introduced, iPhones are still very much in demand.
Apple ( AAPL) on Tuesday announced a massive earnings beat for the three months ended June 26, thanks to a nearly 50% year-over-year jump in iPhone sales to $39.6 billion. The company posted total quarterly revenue increased 36% to $81.4 billion — a record for the June quarter and nearly $8 billion above analyst expectations. « This quarter, our teams built on a period of unmatched innovation by sharing powerful new products with our users, at a time when using technology to connect people everywhere has never been more important, » Apple CEO Tim Cook said in a statement. The June quarter is typically Apple’s slowest time of year and some analysts had worried, leading up to the report, that the company would face tough year-over-year comparisons for hardware sales because the pandemic was driving strong demand for Macs and iPads this time last year. Others were concerned that the global chip shortage could cause a slowdown in sales of Apple products. But Apple’s results suggest it’s still going strong even as the Covid-19 conditions have improved in many parts of the world.
