Wednesday, 1 August 2018

Apple shares hit record at the start of trading on Wall Street

Apple shares hit a record at the start of trading on Wall Street, pushing the market value of the tech giant closer to the $1 trillion mark.

The shares rose more than 5% to above $200, close to the roughly $206 price needed to make it a $1tn company.

The rise came after Apple reported strong demand for its most expensive iPhones, boosting quarterly revenue despite just 1% growth in shipments.

The average iPhone price hit $724 (£552), well above the expected $694.

The firm said its $999 iPhone X - launched last year - remained its most popular iPhone model in the quarter and had driven the higher sales price.
Revenue growth of 31% in Apple's services business, which includes the App store, Apple Music and Apple Pay, also boosted the firm's performance.

BBC     News.

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