Apple Crushes Expectations, Prints Highest Quarterly Revenue Ever — AAPL Stock

Here's Apple's Challenge in India

Apple hardly changed the body of its flagship phone, yet consumers gobbled up the device. The company's sales for the second quarter of fiscal 2016 totaled $50.6 million. Mac unit sales were up from a year ago to 5.4 million, and Mac revenue was way up, to $7.2 billion.

Imagination Technologies (IMGTY) and other European suppliers to Apple (AAPL) rallied early Wednesday after the US tech giant reported better-than-expected earnings backed by stellar iPhone sales. Apple beat analyst expectations on revenue and net income.

At 78.3 million iPhone units increased 5% year over year but assuming that the last week of December was 1/14 of sales the equivalent number of iPhones would be 72.7 million, down nearly 3% year over year.

Apple sold 3.5 more million iPhones in the holiday quarter, setting a new record for the company.

Apple services revenue grew strongly, led by record customer activity on the App Store, Cook said. Services is a very important segment for Apple moving forward.

The iPhone 7 Plus also features a dual camera which allows users to zoom and take DLSR-style images.

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Apple released its fiscal 2017 first-quarter financial results today.

On a sour note, AAPL's iPad sales continued to struggle.

According to the latest data from Strategy Analytics, Apple shipped 78.3 million handsets in Q4 2016 - around 800,000 more than Samsung. The pricier iPad Pros work with optional styluses and keyboard cases.

Apple's booming services business, including Apple Pay, Apple Music and the App Store, accounted for $7.2bn in revenues, an 18% increase from a year ago.

Outlook: Apple expects sales of $52.5 billion in the current quarter, based on the midpoint of its guidance. Per-share earnings, though, rose to $3.36 from $3.28., or $3.

It meant that earnings were up 3% on the same period previous year, with earnings of $3.36 per share recorded. In each of its last three quarters, it had reported sales that had declined on a year-over-year basis. But revenue from the Americas, at $31.96 billion, was up 9 percent. Apple ended the quarter with $246.1bn in cash.

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