Apple earnings report: Revenue, earnings and sales up 1% as the company adds new iPhones
Posted On July 14, 2021
The Apple Inc. stock market is up 1.7% on Tuesday, marking the biggest one-day gain since September 2015, as investors cheered the latest Apple iPhone launch and boosted the company’s revenue for the year.
The company said it would sell up to 8.5 million iPhones this year, including its latest iPhones, and will unveil its next generation iPhone 6s next week.
Its stock, which was trading near $1,200 at midday, jumped 1.8% to $1.29.
Apple shares have climbed more than 40% since the start of the year, the biggest increase in the S&P 500 Index since 2007.
Apple shares have gained about 15% this year after hitting record highs in 2016, which is the company-wide benchmark for earnings per share.
The stock’s gains came as the iPhone maker added a new iPhone, the iPhone 6, to its lineup in the U.S. and Canada, and introduced a new iPad line.
Apple’s stock has gained more than 100% in 2017, while the S &D index has lost nearly 50% over the same period.
The iPhone launch, which Apple said will take place next week, will be Apple’s biggest to date.
The launch of the new iPhone 6 and iPhone 6 Plus, which will come in a range of colors, features and features, has been delayed until mid-October.
Apple said the launch will include new hardware and software features that are not available on the current iPhone models.
Apple CEO Tim Cook, who took over from Steve Jobs last month, also told the crowd that Apple is making an ambitious new product push with a series of new iPhones, including a new smartwatch.
Cook has said Apple’s goal is to sell one billion iPhones this decade.
Apple has added more than 2 million employees in the past year, according to the company, and Cook has called for more workers to come to the U to help build the iPhone.
The Apple Inc.-led iPhone team said Monday that the iPhone will be available to the public in the United States this fall, and that Apple will start shipping the iPhone to customers in late October.