Apple on Wednesday (April 28) posted sales and profits far ahead of Wall Street expectations and announced a $90 billion 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 $6.5 billion more in iPhone sales than predicted and Mac sales about a third higher than estimates.
Apple Chief Executive Tim Cook said the company sees an economic recovery coming.
Apple shares rose 3% in extended trading after the results.
(Production: Aleksandra Michalska)