Why third quarter results pushed Apple to US$1 trillion in value
Apple sales were boosted by an average selling price per iPhone which went from below US$600 to US$724. Quarterly revenue was up 17% in the quarter, relative to the prior corresponding quarter, with services revenue up 28% normalized, with a big pipeline of new services.
In the June quarter, paid subscriptions to Apple Services topped 300M users (+60%) and the App Store, AppleCare, Apple Music, iCloud and Apple Pay all set new June quarterly revenue records. For the App Store, results were even more impressive when considering the Chinese government reportedly slowed the process of new app approvals in the quarter (China is biggest App Store country in the world). Hear the interview on 2GB with Ross Greenwood.
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