Apple shares hit record high as iPhone X orders help push up profits

The Independent - Tech 

Apple has reported better-than-expected earnings and offered a rosy forecast for the holiday shopping season, allaying investor concerns about production delays on the new iPhone X and demonstrating remarkable strength across its growing line of products and services. The stellar earnings report came just as the iPhone X went on sale on Friday morning in Australia. Long lines were forming at Apple stores around the world, recalling the consumer frenzy that greeted early versions of the iPhone, but had faded with more recent launches. With supplies potentially tight, some Australian purchasers were already planning to sell their phones for as much as A$3,000, nearly double the A$1,579 selling price. Apple shares rose 4 per cent in after-hours trading to hit an all-time high, with analysts lavishing praise on Apple CEO Tim Cook and speculating on when Apple might become the first public company worth a trillion dollars.

  Country: Oceania > Australia (0.35)
  Genre: Press Release > Financial News (0.51)
  Industry:
  Technology: Information Technology > Communications > Mobile (1.00)

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