How Apple Became the Most Valuable Public Company Again

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Apple’s stock hit a new record high following its recent third-quarter earnings report. The recent Motley Fool podcast discussed how.

It’s all about the services with Apple, at least on the growth side. As you mentioned, the iPhone business, as we’ve talked about, pretty stagnant now. They continue to make really good iPhones. The iPhone 11 is seeing good reception. But revenue up 2%, a little higher than guidance. If you back out the iPhone, growth is up 17%. But really about the wearables. The wearables business continues to drive a lot of the growth on the services side, which includes the wearables. Up 18% on the sales. Now makes up 20% of sales but 33% of the gross profits. They now have 33,000 apps across all the platforms. It was the best quarter ever for AppleCare.

Check It Out: How Apple Became the Most Valuable Public Company Again

How Apple Became the Most Valuable Public Company Again
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