What, Apple worry?
Earlier today, we reported that Apple’s stock price was dropping thanks to analysts claiming that Apple would miss iPhone sales expectations. Well, they were wrong. Dead Wrong. Apple sold over 35 million iPhones in fiscal Q2, up 88% from a year ago and easily beating expectations of about 32 million. Apple also sold just under 12 million iPads during the quarter, a 151% increase over this period last year.
Strong sales resulted in a phenomenal quarter for Apple, who brought in a whopping $39.2 billion in revenue, easily besting Wall Street expectations of $36.88 billion. Earnings per share (EPS) came in at $12.30 for fiscal Q2, again significantly outperforming expectations of $10.04 EPS.
Apple has another record quarter on its hands, paving the path for Apple to become the first trillion-dollar valued company ever. Apple’s after-hours stock trading price is up about $30 per share, flirting with $600 after dropping nearly $100 in the past few weeks. You can check out Apple’s full earnings report here.