The tech company's stock jumped 2.9% to end Thursday at $US207.39, giving it a market capitalisation of $US1.002 trillion ($NZ1.4 trillion). Strong demand for the iPhone X boosted iPhone sales by 20.4%, despite just a 0.7% increase in iPhone units sold. Management said new iPhone users grew by double-digits during the quarter, indicating strong market share gains globally. ''This is a very seasonal period for iPhone sales as consumers wait for the launch of new iPhone models in September. There was room for Apple to grow its market share in the low end of the market, particularly emerging markets.

Source: Otago Daily Times August 02, 2018 20:26 UTC