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How Apple defied the odds to post the biggest quarterly profit ever

February 17, 2020

Via: Fortune

Well, the bears blew this call. Many on Wall Street worried Apple was stagnating at this time last year, pinned under the weight of slowing iPhone sales and a failure to produce new market-dominating products. The stock fell 38.8% from its 2018 high through January 2019. But what a difference a year makes. Not only are iPhone sales climbing, but both the Apple Watch and AirPods are also huge successes, driving 37% year-over-year growth in the wearables division and helping Apple notch the highest quarterly ­profit ever reported ($22.2 billion in the company’s first quarter).

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