Apple just reported that its financial results for its fiscal 2018 third quarter ended June 30, 2018. Apple Inc. posted quarterly revenue of $53.3 billion, an increase of 17 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.34, up 40 percent. International sales accounted for 60 percent of the quarter’s revenue.
Apple's current market cap is $935 billion. If stock value continues to rise above 7 percent, Apple is on its way to becoming the first trillion-dollar company at a price of US $203.46 per share.
This record revenue was fueled largely by a whopping 31 per cent increase revenue from services which encompass various Apple Store, iTunes, Apple Pay, AppleCare, licensing and other ecosystem-related plays.
Other Apple products, by comparison, continue to plateau or remain steady in terms of revenue. iPhone revenue is up 1% at 41.3 million, iPad revenue is up 1% at 11.55 million and Macs are down 13 % with 3.7 million. Other products, which would include Apple Watch, HomePod, Apple TV and accessories are up 37 % year over year and yielding 3.7 billion in revenue.
Apple is expected to come out strong with a series of new products in the fall. This includes a rumoured mix of three iPhone models, updated iPad Pros and a refresh of long neglected MacBook, Mac Pro, MacBook Air and Mac mini lines. Apple recently released updates of the MacBook Pro, which have updated specs and high-end components aiming for the pro market, even if they are extremely expensive.
Issues with the butterfly keyboards on earlier MacBook and MacBook Pros as well as no viable replacement for the MacBook Air, Apple's most popular portable, which still has 2015 specs, are possible reasons why Mac sales have dropped consistently. Apple's Mac line currently has 7.1 per cent of the total PC market sales. New model consumer laptops, Macs and iPads as well as upcoming iPhones should continue Apple's momentum towards the rest of the year.