Prime Allied Limited - Apple predicts accelerated sales growth and robust iPhone demand

CENTRAL, Hong Kong - Aug. 17, 2023 - PRLog -- Allowing it to outperform Wall Street projections and anticipate higher sales growth in the future.

The shares of the Silicon Valley behemoth surged 3.5% in the hours after the announcement of the findings.

Despite the fact that macroeconomic indications throughout the globe are becoming negative, Chief Financial Officer Luca Maestri told Reuters that demand for iPhones, the company's main source of income, has not slowed.

Phone sales increased 3% to $40.7 billion in the fiscal third quarter, above Wall Street's expectation of a 3% decrease. According to Canalys statistics, the total worldwide smartphone market fell 9% in the most recent quarter.

In the past, Apple's devoted and relatively wealthy client base helped it to weather consumer spending falls better than other brands, and the company's recent quarterly results indicate a similar trend unfolding.

According to Canalys Research analyst Runar Bjorhovde, "Apple in that sense has a certain robustness that will allow it to be impacted less than a lot of its competitors."

Apple issued a warning.

According to Apple's Maestri, the collapsing economy is harming sales of advertising, accessories, and home items, which he refers to as "pockets of weakness."

"Fortunately, we have a very broad portfolio, so we know we're going to be able to navigate that," he said.

Prime Allied Limited (https://prime-allied.com) provides asset management and financial consulting. Prime Allied Limited works with you to create a financial strategy that allows you to actively build, conserve, and diversify your assets.