The stocks of AAPL have reported another amazing quarter on Wednesday, where the sales went up 54% more than the previous year. The company also generated much stronger profits than the analysts from Wall Street expected. The shares of AAPL also enjoyed a rise of above 4% in extended trading.
The Revenue Growth Of AAPL
AAPL brought out a report of double-digit growth in every single product category it had, with the iPhone registering around 65.5% from the previous year. The company’s other products, namely iPad and Mac also did comparatively better- with the iPad growing almost 79% annually, and the computers having a sale of 70.1%.
The company stated that they would be increasing its dividend by around 7% to $0.22 per share- with $90 billion authorized in buybacks. This is definitely higher than the $50 billion outlay from the previous year and $75 billion from 2019.
AAPL has not issued official guidance yet from what it will expect in the June quarter ending. It also hasn’t doled out the guidance pattern for its revenue ever since the pandemic began- citing uncertainty as to the reason. Incidentally, this is the second quarter of this conglomerate where they have experienced double-digit growth in almost every single product category.
Luca Maestri, the CFO of Apple, did mention to analysts that the company will be expecting from the quarter revenue in June to increase by double-digits every single year. This would come in, regardless of the supply shortages that the company is facing due to a chip shortage throughout the globe.
The last few months saw AAPL mentioning that its business was experiencing a boost that took place within the pandemic as several businesses and consumers bought more and more computers to work from home. It has also been suggested that the strong results of this company will continue even when more economies will climb up.