(Reuters) – The iPhone is back. But Apple is girding for more disruptions in virus-hit China.
Apple Inc (AAPL.O) on Tuesday reported sales and profits for the holiday shopping quarter above Wall Street expectations, thanks to rising iPhone sales for the first time in a year and soaring demand for add-ons like AirPods wireless headphones.
The performance outweighed concerns about the coronavirus outbreak in China, a major market and manufacturing hub for Apple, and a slight revenue miss in the company’s services business, which includes the new Apple TV+ streaming offering.
Shares of Apple rose 2% in after-hours trade.
Apple forecasted revenue for the quarter ending in March above Wall Street expectations.
Chief Executive Tim Cook told Reuters the company used a wider-than-normal prediction range because of the uncertainty created by the coronavirus.
“We have limited travel to business-critical situations as of last week,” he said. “The situation is emerging, and…
Source Reuters Tech News