Apple stock rose 4% in premarket trading after earnings that saw services revenue jump 13% to a record high of around $11.5 billion
Shares in Apple climbed 4% in premarket trading, promising a $40 billion boost to the iPhone maker's market capitalization that would lift it past $1 trillion yet again. The stock is set to rise after Apple posted record third-quarter service revenues. AppleCare, Music, and cloud services set fresh sales highs, while the App Store posted a third-quarter revenue record. iPhone sales fell 12%, an improvement from their 17% drop in the second quarter, while Mac, iPad, and wearable sales rose.
Shares in Apple climbed 4% in premarket trading, promising a $40 billion boost to the iPhone maker's market capitalization that would lift it past $1 trillion yet again. The stock is set to rise after Apple posted record third-quarter service revenues. AppleCare, Music, and cloud services set fresh sales highs, while the App Store posted a third-quarter revenue record. iPhone sales fell 12%, an improvement from their 17% drop in the second quarter, while Mac, iPad, and wearable sales rose.
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