Apple Revenue Soars to Kshs.11 Trillion for the First Time

Apple Records $100 Billion revenue

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Apple reported that its sales in the last three months of 2020 surged on the growing sales of iPhones and services. The company’s sales topped $100 billion, an all-time record high.

The iPhone manufacturer recorded a 29 percent profit in December to $28.7 billion and a 21 percent revenue growth to $111.4 billion. International sales accounted for at least two-thirds of the sales with greater China accounting for sales worth $21.3 billion, up from $13.6 billion a year ago. The Americas region accounted for sales worth $46.3 billion, up from $5 billion a year ago.

“We’re gratified by the enthusiastic customer response to the unmatched line of cutting-edge products that we delivered across a historic holiday season,” chief executive Tim Cook said.

Apple said iPhone sales grew 18 percent to about $66 billion, leading all other products.

Read also: Apple Reveals Sales Were Hurt By Pandemic, Confirms Delay In iPhone 12 Launch

“This strength in iPhone sales provides evidence for Apple bulls that another iPhone supercycle may be in the cards,” Dan Morgan, a senior portfolio manager at Synovus Trust Company.

The company further recorded iPad sales of $8.44 billion, an increase from a $7.58 billion projection. Mac sales were $8.68 billion, just a little under the projected $8.86 billion.

The tech giant recorded increased sales in wearables, including the Apple Watch, accounting for $12.9 billion in sales for the category in the company’s first fiscal quarter.

Apple services including sales of music, digital content, cloud computing, and subscriptions grew to deliver $15.7 billion in sales out of the total figure.

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Written by Vanessa Murrey

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