Apple Stock Price Soars on Record Earnings

Strong iPhone and Mac Sales Drive Quarterly Results

Cupertino, Calif. (March 15, 2023)

Apple Inc. (AAPL) reported record-breaking earnings for the first quarter of 2023, driven by strong sales of its iPhone and Mac products. The company's stock price jumped 5% in after-hours trading following the announcement.

According to the earnings report, Apple generated $123.9 billion in revenue for the quarter, an increase of 18% year-over-year. iPhone sales accounted for $65.6 billion, up 19% from the same period last year. Strong demand for the iPhone 14 series, particularly the Pro models, contributed to the growth.

Mac revenue also surged by 25% to $13.2 billion. The company attributed this to the popularity of its new M2-powered MacBook Air and MacBook Pro laptops. Additionally, iPad and Services sales remained stable, generating $7.2 billion and $19.6 billion, respectively.