Apple races to become the first trillion-dollar company after strong Q3 earnings

Apple posted its third quarter earnings today with a revenue of $53.3 billion, surpassing its projection by $1 billion. It’s the strongest third quarter for the company ever, despite one that tends to slow on iPhone sales as consumers prepare for new smartphone announcements in the fall. The average selling price of the iPhone was $724, which was above analyst estimates of $693.

Apple’s expected revenue for fiscal Q4 is $60 to $62 billion, a 16 to 19 percent growth from this period last year. The strong forecast could suggest that multiple new hardware devices are coming in the fall; so far, rumors suggest that up to three new iPhone models could be announced, while consumers are also anticipating a new version of the iPad Pro and a…

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