Apple is the first company ever to reach a market cap of $1 trillion. Headquartered in Cupertino, CA., the company was founded on April 1, 1976 by the Steves: Steve Jobs and Steve Wozniak. And a guy named Ronald Wayne.
Many analysts thought iPhone sales would fall off at the retail price barrier of $1000. However, Business Insider explains in this article that the iPhone X successfully breached the barrier.
The train keeps moving too. Apple’s 3rd quarter in 2018 broke records with $62.9 billion in revenue. iPhone sales, with the help of iCould and Apple Music, powered the revenue growth. (The Guardian).
Despite the earnings good news, Apple announced that they will stop reporting the amount of iPhones they sell. The New York Times describes in this article why that might be a bad sign. After the announcement, and disappointing forecasts for this quarter’s sales, the company’s stock dropped by 7%. So is Apple going to refrain from reporting the number to lessen the blow of bad news? Have iPhone sales reached their peak?
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