Apple's retail stores in many parts of the world were shut down for much of the third fiscal quarter of 2020, but the iPhone still saw two percent growth, which Apple CEO Tim Cook said was a surprise as the company expected year over year iPhone performance to decrease.
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COVID-19 had the biggest hit on Apple's sales in April, but demand for the iPhone increased in May and June, which Cook attributed to the "very successful" release of the low-cost $399 iPhone SE and economic stimulus packages provided to many in the United States.
The iPhone ultimately brought in $26.4 billion, up from $26 billion in the year-ago quarter, marking two percent growth. Apple brought in $59.7 billion in total, marking a new June quarter record.
Tag: earnings
Top Rated Comments
(View all)Go figure.
The whole point of the check was to stimulate consumer spending.Stimulus Check - buy iPhone. Priorities.