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Strong iPhone sales propel Apple’s fiscal Q3 results past Wall Street’s expectations
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KOB.com
Apple posted a solid fiscal third quarter on Thursday, climbing past Wall Street’s expectations thanks to strong sales of the iPhone and MacBook computers.
Apple raised the prices of its Macs and iPads last month, citing a memory-chip shortage brought on by the artificial intelligence boom.
While it hasn’t yet raised iPhone prices, analysts and consumers expect that to happen later this year.
The maker of the iPhone and iPad said Thursday it earned $29.79 billion, or $2.02 per share, in the April-June period.
“As the market grows more worried about free cash flow trajectories elsewhere in Big Tech, Apple keeps standing out as the safe haven in the storm.”