It is cheer time for Apple and this is not for another outing that has struck a chord with consumers but owes itself to record revenue earnings and net profit for the global giant. The first quarter of the ongoing year has seen whooping profit figures that touched the $13.1 billion mark while revenue range struck the $54.5 billion figure. Of note is the fact that a chunk of the revenue—about 61 percent—could be owed to international Apple sales.
The iPhone alone saw a record number of units being grabbed in this quarter. The exact figure stood at 47.8 million—over and up from erstwhile 37 million.
Apple insiders have revealed that the company is now targeting revenues to range between 41-43 billion dollars in the next quarter. Add to this, an anticipated rate for tax at 26 % and we could know if the cheer is here to last.
For now, we have news that investors are not beaming at the dip in Apple stocks– that has sent gross margins running into the blues.