Apple Logs Record-Breaking Revenue In India, Boosted By Mac Sales
Portfolio Pulse from Ananthu C U
Apple Inc. (NASDAQ:AAPL) reported record-breaking revenue in India, driven by strong Mac sales. The company's Q3 FY24 revenue reached $85.8 billion, a 5% year-over-year increase. Mac sales rose by 2.46% to $7.01 billion, while iPad sales surged by 23.63% to $7.16 billion. Despite a slight decline in iPhone sales and wearables, Apple's services revenue grew by 14.14% to $24.21 billion.
August 02, 2024 | 8:39 am
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Apple Inc. reported record-breaking revenue in India, driven by strong Mac sales. The company's Q3 FY24 revenue reached $85.8 billion, a 5% year-over-year increase. Mac sales rose by 2.46% to $7.01 billion, while iPad sales surged by 23.63% to $7.16 billion. Despite a slight decline in iPhone sales and wearables, Apple's services revenue grew by 14.14% to $24.21 billion.
Apple's strong performance in India, particularly in Mac and iPad sales, along with a significant increase in services revenue, is likely to positively impact its stock price in the short term. The overall revenue growth and setting new records in multiple countries further bolster investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100