Apple reported strong Q3 growth for FY20-21 despite the COVID-19 setback, which has crippled most of the industry globally.
The Cupertino giant registered a $59 billion in revenue and double-digit growth in its products and services across various categories. This translates to the overall growth of 11 percent for the company.
The company also said that the new iPhone will be launched “a few weeks later” than its usual September launch this year.
Shares of Apple were up about 6 percent after the announcement catapulting it to a record-high stock price of $400 for the first time.
Apple saw widespread closures of its physical retail outlets across the world due to the novel coronavirus pandemic. However, the company was able to weather this malady thanks to record sales of its latest $400 iPhone SE 2020.
Wearable segment sales decelerated as per predictions but still managed to hold record sales for a non-holiday quarter.
Analysts and tech experts were looking for cues during the earnings call about Apple’s upcoming iPhone and the company didn’t disappoint.
Apple’s senior vice president Luca Maestri said that “This year the supply of the new product will be a few weeks later than that (September)”. This means that iPhone, iPad and Apple Watch fans will have to wait a bit longer to get their hands on the new 2020 lineup.
The company did not reveal the details about the delay. However, rumours suggest that delays in mass production could be due to COVID-19.
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)