Apple Shares Skyrocket 31% On Stronger Than Expected iPhone Sales

Apple iPhone Sales numbers

I’m not sure how but Apple has continued to find new ways to sell even more iPhones.

The company’s shares skyrocketed by 31% on Tuesday after the company reported a 31% increase in profits for the last quarter.

Apple was helped along by the iPhone 6S Plus and iPhone 6S and their heftier storage options which provide better margins.

According to Apple the company sold 48 million iPhones last quarter. That’s a 1% increase during the same period in 2014.  However, the company’s sales grew by 3% year-over-year.

Apple also reported that Mac sales were up 19% last quarter to 5.7 million unit — an all-time record for the company.

In its “other products” category Apple also reported that devices such as iPods, Apple TVs and Apple Watches, grew by 15% year-over-year. Those mysterious device numbers brought in $3 billion in sales last quarter.

Apple’s services, including Apple Music, the iTunes App Store and music store, and iCloud, brought in $5.1 billion in sales.

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Apple did report fewer than 10 million tablets, which was 10% fewer than it sold a year earlier.

Sales in China grew by an astounding 99%

Apple’s overall sales rose 22% to $51.5 billion.

Written by Lane Hanson

Lane Hanson

Lane Hanson is BusinessPundit's Economy Editor. He reports on major changes in the US and Global Economies. He can be reached at College Reviews.