Apple Inc.AAPL
▲ PositivePricingrelevance
Apple kept iPhone prices unchanged despite cost increases, supporting demand and market share.
Impact on stocks 1
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Apple Inc.Apple is expected to post its strongest June-quarter sales growth since 2021 as steady iPhone prices support demand. Revenue is projected to rise 15.5% to $108.65 billion for the fiscal third quarter, with iPhone sales expected to increase 20.8%, marking their fastest third-quarter growth in five years. Apple kept iPhone prices unchanged even as memory and storage shortages pushed up costs across the smartphone industry, helping iPhone shipments rise 3% and lifting Apple's global market share to nearly 20%. Mac revenue is expected to grow 8.7% and iPad sales are forecast to rise 5.2%, while profit is projected to increase 18.1% though gross margin may slip to 47.9% from 49.3% in the previous quarter. Apple has also benefited from avoiding the heavy data center spending seen across Big Tech, and its shares are up nearly 25% this year.
Apple Inc.Apple kept iPhone prices unchanged despite cost increases, supporting demand and market share.