INSUBCONTINENT EXCLUSIVE:
Apple currently has a market cap of $935 billion.SAN FRANCISCO: Despite slow iPhone sales, Apple is racing ahead to become the world's
first trillion-dollar company as it posted revenue of $53.3 billion in its fiscal third quarter -- an increase of 17 per cent from the
International sales accounted for 60 per cent of the quarter's revenue, the Cupertino-based giant said in a statement late on Tuesday
Apple reported net income of $11.5 billion and operating cash flow of $14.5 billion
"We're thrilled to report Apple's best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth," said CEO Tim
Cook."Our Q3 results were driven by continued strong sales of iPhone, services and wearables, and we are very excited about the products and
services in our pipeline," he added.The biggest $9.55 billion revenue came from Apple services (Apple Music, iCloud and Apple
Care).According to The Verge, the strong forecast could suggest that multiple new hardware devices are coming in the fall."Rumours suggest
that up to three new iPhone models could be announced, while consumers are also anticipating a new version of the iPad Pro and a redesigned
Apple Watch," said the report.Apple currently has a market cap of $935 billion."If stock continues to rise above 7 per cent, Apple could
become the first trillion-dollar company at a price of $203.46 per share," said the report.Apple's CFO Luca Maestri said that the company
returned almost $25 billion to investors through its capital return programme during the quarter, including $20 billion in share
repurchases.Apple forecasts revenue between $60 billion and $62 billion and operating expenses between $7.95 billion and $8.05 billion for
its fiscal 2018 fourth quarter.(Except for the headline, this story has not been edited by TheIndianSubcontinent staff and is published from
