Apple outweighs trade war torments, lifts holiday quarter outlook


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Apple outweighs trade war torments, lifts holiday quarter outlook

On Wednesday, the 30th of October 2019, the Cupertino, CA-based iPhone manufacturer, Apple Inc. had raised its sales forecast for the critical holiday quarter that had beaten Wall Street estimates by a fair distance, as Apple Chief Executive Tim Cook expressed a through-and-through optimism on strong holiday quarter sales of its recently released wearable devices likes of noise-reducing AirPods Pro amid growing hopes of a near-term resolution of Sino-US trade row.

According to Apple Inc.’s Wednesday’s (October 30th) holiday sales forecast, the iPhone maker said in a statement that it was anticipating a sales figure between $85.5 billion to $89.5 billion for its first fiscal quarter which would be ended by December 31st, while an arithmetic mean sales value of $87.5 billion had been well-above the Wall Street’s estimate of $86.9 billion, IBES data from Refinitiv showed.

On top of that, following reveal of Apple Inc. sales forecast for a crucial holiday season ahead, shares of Apple Inc. surged more than 2 per cent to $247.50 immediately during after-market trading after wrapping up the day a penny lower to $243.26 per share., Aside from that, in an interview with a press agency, adding that Apple services and wearables had a “very, very good start,” Apple CEO Tim Cook had been quoted saying late on Wednesday (October 30th) that the strong sales projection had also reflected Apple Inc.’s belief that the United States and China would be able to resolve their deep differences over trade before the year-end.