TODAY'S CHARTS: Why Apple doesn't want a big revenue beat

TODAY'S CHARTS: Why Apple doesn't want a big revenue beat

Apple shares soared to an all-time high on Tuesday afternoon after the tech company announced it had sold 41m iPhones in the last three months.

Apple's earnings climbed 12 percent to $8.7 billion in the company's latest quarter amid rising demand for iPhones while the iPad snapped out of almost four-year sales slump. Adjusted earnings per share for the entire company rose to $1.67, which topped the Wall Street consensus forecast of $1.57 a share.

It was seen as particularly impressive given the fact its new iPhone 8 and 7S models are expected to be released in September, despite doubts that weak availability of key chips could hit the launch.

Apple sold more than 41 million iPhone handsets in the last quarter, as well as 11.4 million iPad units.

As a result, Apple saw quarterly revenue rise from $42.4 billion to $45.4 billion, year-over-year, and earnings per diluted share increase from $1.42 to $1.67.

"We hosted an incredibly successful Worldwide Developers Conference in June, and we're very excited about the advances in iOS, macOS, watchOS and tvOS coming this fall", he added.

The other good news was actually contained in the company's guidance, which was for strong fourth quarter revenue, suggesting that Apple will be able to launch its new iPhones on time and secure those pre-orders.

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Leading the way was Apple's iPad sales, which were up 15 percent from a year ago.

Apple says revenue from services was a record at $US7.26 billion, up 22% year on year and a developing area of income as device sales slow.

The "Other" categories of products rose by 23% to $2.74 billion.

Unexpected sales news August 1 had to do with a resurgence in the iPad-in particular, the new, larger version.

The shares were up more than 5.8% in after hours trading at around 7am Sydney time, pushing the company's value to more than $US830 billion which would be the highest ever.

Apple (AAPL) this afternoon reported fiscal Q3 revenue and profit that comfortably topped analysts' expectations, beat with its outlook for revenue this quarter, with iPad tablet sales being the big star.

This would mark Apple's biggest iPhone refresh since the iPhone 6 was released in 2016, with the potential to trigger a big wave of upgrades and new purchases.

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