iPhone Revenue Saw Growth in Q3 2020 Thanks to iPhone SE Launch

Thursday July 30, 2020 2:23 pm PDT by Juli Clover

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.

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

Mr. Dee

9 months ago

Stimulus Check - buy iPhone. Priorities.

Score: 10 Votes (Like | Disagree)

Rce84

9 months ago

I'm so glad to have invested money in Apple stock. I'm looking forward to early retirement. Thank you everyone!

Score: 6 Votes (Like | Disagree)

satchmo

9 months ago

Low price iPhone with great processor = high demand

Go figure.

Score: 6 Votes (Like | Disagree)

szw-mapple fan

9 months ago

Stimulus Check - buy iPhone. Priorities.

The whole point of the check was to stimulate consumer spending.

Score: 4 Votes (Like | Disagree)

kazmac

9 months ago

I enjoy my SE. Glad I took the plunge.

Score: 3 Votes (Like | Disagree)

Miles Teg

9 months ago

Walmart + ATT had an awesome $200 discount on the iPhoneSE. I got a 256GB for $350.00 normally $550.

Score: 2 Votes (Like | Disagree)

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