• About
  • Contact
Monday, June 27, 2022
  • Login
Next Big Brand
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail
No Result
View All Result
Next Big Brand

Apple Has $193.82 billion In Cash On Hand Despite Ongoing Pandemic

Pritish raj by Pritish raj
July 31, 2020
in News, Tech
Reading Time: 2 mins read
A A
0
Apple Valuation Cash most innovative company Market Cap- Next Big Brand

Apple Market Cap- Next Big Brand

  • Apple currently has $193,817 billion in cash on hand, according to a third-quarter fiscal earnings report issued by the company Thursday.

Apple currently has $193,817 billion in cash on hand, according to a third-quarter fiscal earnings report issued by the company Thursday.

That’s up from the company’s second fiscal quarter of 2020 when it announced a cash pile of $192.8 billion. However, it’s down from Apple’s third-quarter fiscal 2019 earnings, when Apple posted cash at $210.6 billion. Apple has invested in new offerings, including original TV shows and movies from Apple TV+. According to its earnings report, it has also spent 13.8 billion dollars on research and development over the past 9 months.

Apple has been continuously holding one of the largest cash piles for U.S. companies while under pressure from the Covid-19 pandemic. Most of Apple’s retail outlets around the globe are now open but many in the U.S. are still closed.

Today, investments in Apple have largely recovered from the low-point pandemic in March. Shares are up over 30% year-to-date and more than 83% after last year’s third-quarter earnings were posted by Apple.

Consumers may have cut spending during the pandemic, but that did not apply to Apple products as the tech giant reported quarterly results Thursday (July 30) that exceeded all-encompassing analyst estimates.

The iPhone returned to growth after declining for the last six consecutive quarters, generating $26.42 billion in revenue for the third quarter of Apple’s fiscal year that ended June 27. According to MarketWatch, this is well ahead of the $22.2 billion analysts had anticipated.

According to a press release, overseas sales accounted for around 60 percent of Apple’s current iPhone revenue. CEO Tim Cook attributed stronger-than-expected sales of the segment to the unveiling of the new iPhone SE in his remarks on an earnings call with investors, along with government stimulus funds entering bank accounts for customers.

Apple also announced a $6.58 billion rise in iPad sales from last year’s $5.02 billion, while Macs sales came in at $7.08 billion, compared to $5.82 billion a year earlier, MarketWatch reports. Both results were well ahead of forecasts from analysts for iPad revenue of $4.85 billion and Mac revenues of $6.03 billion.

Cook attributed the slightly larger-than-expected development of both product lines to the increase of home-worked staff and remote school attendants.

“It improved both the Mac and the iPad,” Cook told CNBC. “We see both those likely to pick up share and, respectively, being an instrument of preference in terms of their profitability.”

Apple’s services division — home to deals such as Apple Care, Apple Pay, Apple Subscriptions, and Apple Card — also saw revenue grow 14.9 percent year on year to $13.16 billion, CNBC stated.

Cook noted on the call that those numbers meant that Apple hit its 2016 target of doubling $6.5 billion in service revenue, and did so six months ahead of schedule.

Revenue from wearables, shoes, and home goods also rose from $5.5 billion a year ago, to $6.45 billion. That came ahead of analyst estimates which requested $5.98 billion, reported MarketWatch.

Previous Post

Instagram Is Luring TikTok Creators Away With Monetary Incentive For Reels

Next Post

Moonbug Acquires Cocomelon & Blippi Kids Channels With 7 Billion Views

Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

Related Posts

20220627 152251 0000
News

Proptech Startup PropShare Raises $47 Million Led by WestBridge Capital

June 27, 2022
images 9 17
Cryptocurrency

Christiano Ronaldo and Binance Announce NFT Partnership

June 24, 2022
Khaby Lame Tiktoker
Creators

Khaby Lame Becomes World’s Most Popular TikToker

June 24, 2022
Pine Labs Founder
News

Merchant Platform Pine Labs Acquires Fintech Infra Startup Setu for $70-75 Million

June 23, 2022
Ebay KO
Cryptocurrency

eBay Acquires NFT Marketplace KnownOrigin For An Undisclosed Sum

June 23, 2022
Cashify Founders
News

Cashify Raises $90 Million in Series E Round Led By NewQuest & Prosus

June 23, 2022
Next Post
Moonbug Cocomelon Blippi- Next Big Brand

Moonbug Acquires Cocomelon & Blippi Kids Channels With 7 Billion Views

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

BROWSE BY TOPICS

Acquiring amazon Apple Brands brand story Byjus byjus news byjus the learning app Cryptocurrency Edtech Startups Elon Musk facebook fintech news Flipkart funding google Indian Crypto Startups Indian OTT Platforms Indian Unicorn Indian Unicorns Indian Unicorns of 2021 Netflix NFT NFT Collection NFT India Non Fungible Tokens Ola OYO Paytm Reliance Retail Startup Acquisition Startup IPO startup news india startups in india Swiggy Tiktok TikTok India Twitter Unicorns of 2022 Unicorns of India Unicorn Startups Upgrad WazirX YouTube Zomato
check more news on that pages youtube converter, filme online 2022, filme porno mature, porno amatoriale, nxnxx.org, https://xvideosxnxx.org, https://xoxporn.net

Instagram

Follow Me!

Recent News

  • Proptech Startup PropShare Raises $47 Million Led by WestBridge Capital
  • Christiano Ronaldo and Binance Announce NFT Partnership
  • Khaby Lame Becomes World’s Most Popular TikToker

Latest News

20220627 152251 0000

Proptech Startup PropShare Raises $47 Million Led by WestBridge Capital

June 27, 2022
images 9 17

Christiano Ronaldo and Binance Announce NFT Partnership

June 24, 2022
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail

© 2019 NBB. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.