Apple has reported its third-quarter earnings, and the figures are better than expected. Despite the regular Q3 sales slump in anticipation of the looming new iPhones, year-over-year this was a record quarter for Apple.
Apple shifted 41 million iPhones this past quarter, which is less than the previous quarter but slightly more than it managed in the same period last year.
That’s a lot of devices to sell considering the much-anticipated iPhone 8 is right around the corner, encouraging Apple fans to hold off on that upgrade for a little longer.
These figures are perhaps the most unexpected part of the report; it shows tablet computers bouncing back into fashion despite the popularity of “phablets” like the iPhone Plus models.
Since the recent launch of the incredibly well-received new iPad Pro, iPad sales have increased 15% year-on-year to 11.4 million units sold. After a slow and steady decline for several years, these are the highest non-holiday quarter iPad sales in over two years.
CEO Tim Cook says many of these sales are from first-time iPad buyers, and could be chalked up to the significant price drop for the standard “iPad” line in addition to the hype for the latest iPad Pro.
These impressive financial results have caused a sharp uptick in Apple stock, as AAPL hit an all-time high of around $160.
If the company hits a home run with this year’s iPhone announcements in a couple of months, we could see the stock rising even higher as Apple races to become the first ever business with a trillion-dollar valuation. (It’s currently worth just over $800bn.)