Apple Pal’s profits nearly doubled in recent quarters, showing that the world’s richest and most valuable public company is showing signs of slowing down.
Apple Play said Tuesday its profits rose 93 percent to .7 21.7 billion in the third quarter of its fiscal year from a year earlier, while sales rose 36 percent to 81 81.4 billion, beating expectations of both analysts.
The company has put up a growth rate in recent quarters that looks like a much smaller upstart than the corporate titan of about tr 2.5 trillion dollars. During the epidemic people have bought even more devices than that, as they have become more dependent on technology for work, study and socialization.
Apple Play said its iPhone sales rose 50 percent to .6 39.6 billion, a quarterly growth that was even higher by its highest standards. The increase was particularly surprising, as the company prepares to release a new phone in September, leaving many people waiting to buy a new iPhone.
The saturated smartphone market has seen a decline in iPhone sales in recent years, but the epidemic has largely changed that. IPhone sales were in the third consecutive quarter from April to June, with existing customers growing much higher than upgrading their phones.
Apple sold all of its other products, including wearable devices such as the iPad, the iPad, and the PlayStation Watch and AirPods. With 58 percent growth, the company’s sales grew in every consecutive geographic region, led by the Greater China region, for the third consecutive quarter, with sales up more than 0 percent.