Faizel Patel, Radio Islam News – 03-11-2017
Apple has moved within arm’s reach of a trillion-dollar valuation, securing its place as the most valuable public company in the world.
The technology company released its fourth quarter financial results yesterday announcing revenue of $52.6 billion, an increase of 12 percent from the year-ago.
It says international sales accounted for 62 percent of the revenue.
Apple’s fourth-quarter earnings typically include the first days of sales for the company’s newest iPhone, making it an important window into demand for the company’s flagship product.
CEO Tim Cook says there was a year on year growth in all categories
“With fantastic new products including iPhone 8 and iPhone 8 Plus, Apple Watch Series 3, and Apple TV 4K joining our product lineup, we’re looking forward to a great holiday season, and with the launch of iPhone X getting underway right now, we couldn’t be more excited as we begin to deliver our vision for the future with this stunning device.”
Apple shares have risen about 50 percent over the past year, and Apple’s market capitalization crested $900 billion after hours on Thursday.
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