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Apple Stock Price Soars On Record Earnings

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.


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