Shares of Apple Inc broke new records after the close of trading after the technology giant iPhone X sold at the Apple Store. The launch of this brand-new product coincided with the release of corporate performance, where the sales rate rose 12% to the US $ 52.6 billion in the three-month period ending September.
Apple CEO Tim Cook predicts this momentum will continue through the holiday season. Analysts say Apple is now approaching to become the first company worth trillions of dollars. Apple's 5% jump makes the company's market value reached $ 900 billion.With the sale of the iPhone 8 and X to the market, Cook predicts Apple will post its most significant quarterly performance in the final quarter of this year.
As has been reported previously, consumer enthusiasm over iPhone X is enormous. Thousands of people around the world are lining up outside Apple Stores countries such as Singapore, Japan, US, UK, and China. The iPhone, launched in the framework of the 10th anniversary of Apple, ignores the home button and can be opened with face scanning technology. Also, there are also some other new features.
"The market capitalization of trillions of dollars could be a new target that Cook could easily achieve," explains Daniel Ives, an analyst at GBH Insights. Cook said the company's performance was very positive as its product sales rebounded in China, buying records through the App Store and soaring demand for the latest iPhone models.
Apple sold more than 46.6 million mobile phones in the July to September period, up 3% on a year-on-year basis. The sales value reached the US $ 28.8 billion or more than half of its revenue. Other Apple products such as Mac, iPad and Apple Watch also posted positive sales with double-digit growth.
The company also gets support from its services division, which includes App Store, Apple Pay, and music subscriptions services. In the same period, this unit generated the US $ 8.5 billion. Despite an increase in operating expenses, Apple's profit in the quarter reached the US $ 10.7 billion or jumped 18%.