Because of the COVID-19 pandemic, many people were dubious that new Apple smartphones would hit stores this September like they often do. Another factor that helped boost iPhone sales was the "economic stimulus" governments have been sending to consumers.
Yes, you read that correctly: stimulus packages.
In the meantime, the pandemic isn't stopping people from buying existing iPhones.
It gained more number of consumers in Europe that has been a stronghold for the company in the past. Customers appear to be ditching their current devices for the new iPhone SE, in particular. IPad revenue was $6.6 billion, a strong increase from $5 billion a year ago, while the Mac brought in $7.1 billion, another big jump from $5.8 billion in the same period of 2019.
Demand for all other Apple products, including the Mac and iPad, were also up during the quarter.
Apple reported net income of $11.25 billion on revenues of $59.7 billion in the quarter ending June 30; revenues surged 11 percent year-over-year despite a global pandemic and slower-than-expected iPhone sales. And Apple services experienced something of an off quarter, too. In Cook's case, the House Judiciary Committee mainly pressed Apple's chief executive on how the company runs the App Store and the subscription fees it collects from developers.
It's not clear if this increase comes from Apple Watch, AirPods or what.
Apple CEO Tim Cook, coming off a blowout quarterly report, is confident the USA economy can have a healthy recovery.
While iPhone sales rose only by 1.66 percent, generating a total revenue of $26.42 billion in Q3 2020, iPad and Mac saw double-digit growth. With the updated 13-inch MacBook Pro released in the spring, the entire MacBook line has now made the switch to more reliable keyboards and left the controversial "butterfly mechanism" design behind. Seeing as how most of us are working from home for the foreseeable future, investing in a new computer or tablet is easily justifiable during these work-from-home times.