Apple recently released its earnings for the third quarter of 2018, and it makes for particularly great reading if you happen to own some Apple stock.
It’s the strongest third quarter that the company has recorded to date, with iPhone sales in particular helping with the push.
This is despite several projections that sales would slow down this quarter as consumers and retailers prepared for the launch of new iPhones in September, as has been the trend over the past few years.
Apple’s reported revenue during Q3 (PDF) is listed at $53.26 billion, which greatly surpasses a curiously low projection of $1 billion that the company had made a few months ago.
The company’s mobile devices had an especially good quarter, with an estimated 41 300 iPhone smartphones and 11 553 iPads shipping during that period.
Their Mac lineup, which comprises the AIO desktop and notebook offerings, did not fare as well with only 3 720 units shipping. Given the sizeable price tags and recent reports of faulty keyboards, it is to be expected.
According to the The Verge, Apple’s current market cap is sitting at $935 billion, and should their stock price rise by a further 7 percent, it will see the company surpass the $1 trillion valuation threshold.
It would also make Apple the first company to do so, which means the next few weeks will prove critical.
As such, Apple investors may have to wait until the rumoured trio of new iPhones are unveiled in September. A positive reaction to those smartphones will more than likely give the stock prices the spike they need to reach the $1 trillion goal.