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Apple revenue forecast lags Wall Street targets as iPhone maker struggles with supply chain
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The Business Times
That was less than the 12 per cent rise predicted by Wall Street, according to LSEG data.
Driving Apple‘s results was a 21.7 per cent increase in iPhone sales to US$54.25 billion, above analysts’ estimates of US$53.86 billion, according to LSEG data.
Those iPhone sales were Apple‘s best-ever for a third quarter, when phone sales typically begin to slow as customers anticipate new models during the fall.
Sales of iPads were down 5.9 per cent to US$6.19 billion, below analyst expectations of US$6.92 billion, according to LSEG data.
Wearable sales were up 6.5 per cent to US$7.88 billion, slightly above expectations of US$7.82 billion, according to LSEG.