The third fiscal quarter's good results boomed Apple's shares in the financial markets worldwide. In Germany, the company’s stocks rose 6.75% upon closing of the Deutsche Boerse, marked at €134.30 for 500 units compared to €126.00 registered on Monday, reports The Street.
In the U.S., the shares jumped 6% at the opening of Nasdaq, priced at $159.28. That makes the company to overcome the mark of $800 billion in market value, surpassing Exxonmobil and Amazon combined.
Third Quarter
The company’s third quarter results beat market expectations. According to CNBC, a Thomson Reuters consensus estimate predicted earnings of $44.89 billion, while the actual figure released by the company is $45.4 billion.
Even more surprising, iPhone sales had a great performance, with 41 million units sold in the quarter, a 1.6 increase from the same period last year even though consumers are already waiting for the new iPhone 8 to hit the markets in September. The gadget also set a new record according to Apple, with 1.2 billion phones sold in total.
Apple’s cash pile has also grown in the third quarter, reaching $261.5 billion.
Another mark celebrated by the company is that the Apple Store made Apple’s Services Division reached the size of a Fortune 100 company. Apple’s CEO Tim Cook told CNBC he is excited for the times ahead, especially considering the good results overseas.
“We had several markets in Asia, in Latin America, and the Middle East which grew more than 25% year on year,” he said in the interview.
Fourth fiscal quarter
For the fourth fiscal quarter ending in September, the company also has good expectations, with revenues between $49 and $52 billion, which is above the market’s forecast. According to CNBC, specialists polled by Thomson Reuters expect an announcement of revenues around $49.2 billion for the current fiscal quarter.
That eases rumors the company might be suffering industrial problems that could cause delays in the production of iPhone 8, which will mark the tenth anniversary of the gadget.
iPhone 8
The iPhone 8, expected for September, may feature an edge-to-edge screen and augmented reality functions. The company expects that the new features will drive iPhone 6S users towards the model, as they turned their noses up at the 7 for not being innovative enough.
Apple’s CEO Tim Cook also told CNBC that the company plans to invest in the Service’s sector, which brought revenues of $7.3 billion in the third quarter, up 22% year on year.
That said, there are speculations that the new gadget may feature compatibility functions with Apple’s Home Pod that could make it easier for consumers to buy services in the platform.
