It looks like that Coronavirus couldn’t make any impact on Apple, as the company recorded highest revenue in Q3. The news came on 30th July that despite of global Covid-19 lockdown, Apple somehow managed to top out its own expectations in Q3 revenue count. Its latest earning report suggests that the company is thriving despite Coronavirus tension revolving around the globe. Apple recorded revenue of $59.69 billion in the third year of its fiscal year. What’s shocking is, that analysts were expecting the overall revenue to be around $52.25 billion, and that’s not it, the revenue also reflects Apple’s exceptional growth of 11% year over year.
However, this isn’t only time when Apple reported its earnings since the outbreak of Coronavirus. The company also announced a four-for-one stock split which is scheduled for the end of this August. It is expected that in this split, Apple’s investors will receive three more shares for each share they already own, making single shares more affordable. However, this isn’t the first Apple is pulling of such a maneuver, they’ve done it for quite a few times. The most recent case was recorded back in 2014.
“Apple’s record June quarter was driven by double-digit growth in both Products and Services and growth in each of our geographic segments,” said CEO Tim Cook in a statement accompanying the release. “In uncertain times, this performance is a testament to the important role our products play in our customers’ lives and to Apple’s relentless innovation.”
Apparently, Apple was expecting something extravagant but thanks to the damage caused by COVID-19 and worldwide changes towards in-person retail market. However, all these seismic shifts haven’t made any damages to Apple’s stock, which recorded an all-time high this month and it seems that it is making its way toward breaking through a $2 trillion market cap.
Apple had its first fully remote developer conference earlier this summer. It was reported that they were discussing the debut of their next wave of operating systems. Apple is expected to release a range of new mobile devices in upcoming months. And we are saying that by just basing out the company’s historic device release schedule.
Apple is expected to announce a new lineup of iPhone 12 devices early in this fall, including a 5.4-inch display that should appeal to those who are looking compact hand held devices. There are rumors that Apple might bring 5G to some its devices, though there are reports that such 5G models might ship later than usual September release window.