Apple races to become the first trillion-dollar company after strong Q3 earnings

Apple posted its third quarter earnings today with a revenue of $53.3 billion, surpassing its revenue projection by $1 million. It’s the strongest third quarter for the company ever, despite that it’s a quarter that tends to slow on iPhone sales as consumers prepare for new smartphone announcements in the fall. The average selling price of the iPhone was $724, which was above analyst estimates of $693.

Apple’s expected revenue for fiscal Q4 is $60 to $62 billion, a 23 percent growth from this period last year. The strong forecast could suggest that multiple new hardware devices are coming in the fall; so far, rumors suggest that up to three new iPhone models could be announced, while consumers are also anticipating a new version of the...

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