Apple forecasts 14% to 17% growth, beats analysts, shares jump
Apple just announced it expects sales to grow 14% to 17% this quarter, way above the 9.5% analysts were hoping for.
Investors are clearly happy: Apple's stock jumped more than 3%.
Last quarter was strong too, with $111.18 billion in sales and earnings of $2.01 per share.
John Ternus launches $500 MacBook Neo
Even though CEO Tim Cook admitted supply chain issues slowed down iPhone sales (which still hit nearly $57 billion), there's good news elsewhere.
Incoming CEO John Ternus launched the MacBook Neo at a student-friendly $500, helping Mac sales reach $8.4 billion.
Apple's services business also brought in $30.98 billion.
Despite rising memory costs that could squeeze profits later, Apple kept its gross margin high at 49% and is sticking with its massive $100 billion stock buyback plan.