Apple Climbs Back Near a $1 Trillion Market Cap on Record Quarterly Results
With the ongoing trade war between the U.S. and China as a backdrop, expectations were low ahead of Apple's (NASDAQ: AAPL) fiscal third-quarter financial release. In its two previous earnings reports, the iPhone maker delivered back-to-back year-over-year revenue declines, primarily as a result of weak sales in China.
The company signaled last quarter that a return to revenue growth was in the cards for fiscal Q3, guiding for revenue of $53.5 billion at the midpoint, which would have been a slight improvement compared to the $53.3 billion it generated a year prior.
Apple delivered that and more Wednesday, and investors breathed a huge sigh of relief, particularly in light of comments about its improving results in China.
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