Apple Receives More Revenues Despite Coronavirus Compared to Last Year

Apple Receives More Revenues Despite Coronavirus Compared to Last Year

Apple Receives More Revenues Despite Coronavirus Compared to Last Year

Considered one of the most popular companies in the world with the technological devices it produces, Apple managed to increase its income with the intense demand for Apple TV Plus and wearable devices in the second fiscal quarter results.

Technology giant Apple, one of the richest companies in the world, announced its results in the first quarter of 2020, which has passed through the coronavirus pandemic process. “We are proud to announce that Apple has grown this quarter, despite the unprecedented global impact of COVID-19,” explains CEO Tim Cook, announcing the company’s results for the second fiscal quarter. Apple’s hardware production especially in China caused difficulties at the production point when the epidemic first appeared. Despite this, the company, which managed to earn income, managed to sell $ 28.9 billion in phone sales, even if the iPhone sales decreased 7 percent compared to last year.

Behind Apple’s success, besides its basic products like iPhone, wearable devices such as Apple TV Plus and AirPods are located. Stating that these sectors achieved record earnings in the first quarter of 2020, Cook thinks that the company will be more affected in the second half of 2020.

Apple Receives More Revenues Despite Coronavirus Compared to Last Year

Apple made a $ 2.55 profit per share over the $ 58.3 billion sale in the first quarter ended March 28. This result is more than $ 58 billion in sales and $ 2.46 per share in the same period last year. Apple also managed to surpass the predictions of Yahoo analysts. Analysts thought Apple’s earnings in the first quarter of 2020 would be limited to $ 2.28 per share, with sales of $ 54.7 billion.

AppleÔÇÖs market cap is $ 1.3 trillion

One of the countries most affected by the coronavirus pandemic period is the USA. The country shrunk by about 5 percent between January and March. We can say that Apple had a good process while more than 30 million Americans applied for unemployment. The company did not experience a big decrease in the pandemic process thanks to its different product ranges. Apple’s market value has now reached $ 1.3 trillion.

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