Apple beats Wall Street targets and announces $90bn buyback
Sales to China nearly double as chip shortage leaves iPhones maker unscathed
28 April 2021 - 23:57
San Francisco — Apple on Wednesday posted sales and profits far ahead of Wall Street expectations and announced a $90bn share buyback as customers continued to upgrade to 5G iPhones and snapped up new Mac models with Apple's house-designed processor chips.
Sales to China nearly doubled and results topped analyst targets in every category, led by $6.5bn more in iPhone sales than predicted and Mac sales about a third higher than estimates. Apple CEO Tim Cook said the company sees an economic recovery coming...
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