Apple races to become the first trillion-dollar company after earning a revenue of $53.3 billion in Q3 as against the expectations of The Wall Street.
Apple’s third-quarter earning 53.3 billion with a market valuation $1 trillion is being hyped to reach new record levels. It is also the strongest Q3 revenue for any company ever, even when iPhone sale was going low due to the announcement of new smartphones announced to be released in the fall this year.
According to 9to5 Mac, to become the first $1 trillion company and beat Amazon to the title, Apple’s stock price needs to cross $203, which is 3% above its current price. Meanwhile, Apple’s expected revenue for Q4 is $60 to $62 billion which is a 16 to 19 percent growth from last year. This suggests that Apple might be working on multiple new hardware devices which are expected to come in the fall. Also, rumors suggest that up to three new iPhone models could be announced, while users are also anticipating a new version of the iPad Pro and a redesign in Apple Watch with new features.
Previously, Apple CEO Tim Cook did not confirm a midrange iPhone X device, but he did comment that the company will “continue to provide different iPhones … for folks to meet their needs.”
Moving aside new iPhones, the 2018 MacBook Pro with a third-generation keyboard was just released that will also be part of next quarter’s revenue. Considering that Apple also announced three iPhone models last year, but only the iPhone 8 and 8 Plus were released in Q4 since the iPhone X came out in November.
However, the services department of Apple which includes Apple Music, iCloud, and Apple Care remains a major revenue contributor with a 31 percent increase to a record $9.55 billion in revenue. After today’s announcements, Apple currently has a market cap of $935 billion. If stocks continue to rise above 7 percent, Apple could become the first trillion-dollar company at a price of $203.46 per share.