NewsApple Forecasts Strong iPhone Sales for the Coming Quarter

Apple Forecasts Strong iPhone Sales for the Coming Quarter

Apple’s latest quarterly report included both strong sales for the most recent quarter and a very good forecast for the current quarter. As a result, the company’s stock jumped up to a new high.

The firm reported that revenue for its fiscal third quarter climbed 7.2 percent to $45.4 billion, beating analyst expectations. All of its product categories—including the iPad, which jumped up 15 percent—saw sales increases. The mobile development industry was also a solid contributor to Apple’s bottom line. “The App Store continued to be a major driver of the performance and we couldn’t be happier with how the services business is growing,” said CEO Tim Cook

For the quarter that will end in September, the company is predicting revenue between $49 billion and $52 billion. This is a bit higher than analysts had anticipated and signals that the company has high expectations for its forthcoming iPhone refresh, which is expected to launch in September.

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