Apple reported earnings yesterday and it was another blowout. Revenue was $39.2 billion, beating street consensus of $36.8 billion. It sold 35.2 million iPhones, well above expectations of 30.5 million. iPad sales missed slightly, coming in at 11.8 million (expectations were 13 million).
Most amazing though is Apple’s seamless transition into the post-PC era. Apple’s iOS devices have been the fuel of its growth rocket, accounting for a record 75 per cent of revenue last quarter. To give you some perspective on just how potent that fuel has been, Apple has averaged a 49 per cent year-over-year quarterly growth rate over the past 18 quarters.
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