Apple impressed investors last night with strong quarterly earnings, reporting its best June quarter ever, despite the global economic uncertainty as the COVID-19 pandemic continues to disrupt daily life worldwide.

AAPL stock opened today at ~$409, a new all-time high for the company, and up 6.5% from market close yesterday. Apple made headlines in August 2018 for becoming the first public company to hit $1 trillion market cap, and it is now well on its way to becoming the first public company to cross the $2 trillion mark.

In the just-gone fiscal third quarter, Apple announced $11.2 billion profit on $59.7 billion in revenue. Although Apple does not report unit sales, revenues for each of its major hardware categories were up year-over-year.

iPhone revenue increased 1.6%, following a couple quarters of decline. Mac revenue rose 21.6%, while iPad revenue increased 31%. The Wearables, Home and Accessories division was up 16%, which includes Apple Watch and AirPods sales.

Following the dramatic price rise this year, Apple has announced a 4-1 stock split. This means Apple will reduce its stock price to around $100 starting August 31st, by increasing the total share count by 4. This means individuals buying units of Apple stock, from September, can get in at a lower price. Apple last did a stock split in 2014.

FTC: We use income earning auto affiliate links. More.

Incase plastic ocean waste collection

Check out 9to5Mac on YouTube for more Apple news:

You’re reading 9to5Mac — experts who break news about Apple and its surrounding ecosystem, day after day. Be sure to check out our homepage for all the latest news, and follow 9to5Mac on Twitter, Facebook, and LinkedIn to stay in the loop. Don’t know where to start? Check out our exclusive stories, reviews, how-tos, and subscribe to our YouTube channel

About the Author

Benjamin Mayo

Benjamin develops iOS apps professionally and covers Apple news and rumors for 9to5Mac. Listen to Benjamin, every week, on the Happy Hour podcast. Check out his personal blog. Message Benjamin over email or Twitter.