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Apple iPhone powers quarterly sales to $111B: 'Demand was off the charts'

New York Post·Reuters·about 1 month ago
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Apple on Thursday forecast sales that beat expectations, even as it said it expected to continue to face chip supply constraints, sending shares up more than 3%. Apple executives said they expect sales growth of 14% to 17% in the current fiscal third quarter, which was above Wall Street estimates of 9.5% growth to $102.93 billion, according to data from LSEG. Earlier, Apple reported better-than-expected second-quarter results, with customers showing eagerness to buy a new MacBook model driven by incoming CEO John Ternus , while supply constraints hindered iPhone sales. Apple CEO Tim Cook says iPhone demand was off the charts. Getty Images Apple said sales and profits were $111.18 billion and $2.01 per share for the fiscal second quarter ended March 28, above analyst expectations of $109.66 billion and $1.95 per share, according to LSEG.…

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