According to Apple, nothing can stop them.
Despite increasing economic weakness in China and doubt about the US economy, Apple declared 2015 its ‘best year ever’.
No worries. The maker of the iPhone is seemingly above all that. China’s recent faltering economy has not hindered Apple from recording record-high iPhone sales in the country.
On Tuesday, the biggest company in the world reported that it experienced a year-on-year increase of 99% in China on iPhone sales. This relieved investor worries that the economic instability of the country could hurt demand in the country where business has been booming the most.
Apple finished the quarter with a record $205.7 billion – CASH. More than any company on the globe.
This quarter, Apple’s revenue growth was bigger than the entire quarterly revenue of 90% of Fortune 500 companies. Another significant achievement – earlier this year Apple had the best quarter in all of corporate history.
However, investors are still looking out for signs unparalleled growth might stall.
In the phone’s first weekend, record numbers of the iPhone 6 were sold. Apple then went on to report a quarterly sum of 48 million units sold, just falling short of the predicted 48.5 million.
Apple’s forecast of the holiday season sales fueled fears that the powerful growth in the sale of iPhones (which make up the vast majority of the company’s revenue) may lag in the end.
Approximately 30% of iPhone sales originated from customers enticed away from Google Android – Apple’s main rival. As far as switchovers go, this was a new record.
Another positive note was that the company sold 5.71 million Mac computers this quarter. An excellent number against the otherwise struggling market for PC computers.
Although the number of Apple watches sold since the launch in April has not yet been released, Cook stated that the new device was gaining ground.
Watch sale revenues were again bunched together with those of iPods, Beats headphones and Apple TV in a category for “other products” which achieved a total of $3.05 billion.