Apple sales soar despite sluggish markets

Apple sales soared in the key Christmas shopping season, despite constraints due to a global shortage of microchips.

Sales rose by 11% to a record $123.9bn (£92.6bn) in the October to December period, beating forecasts.

Shares jumped more than 4% in after-hours trade, as the report suggested the firm’s pandemic boom is continuing.

Apple sales boom

Apple has seen purchases skyrocket during the pandemic as people spend more time online.

Executives had warned last year that the global shortage of microchips might limit its sales, but the firm’s quarterly update to investors on Thursday showed it brushing past those constraints.

The firm’s market value briefly hit the $3tn milestone in early January though its share price has slipped more recently amid weeks of market turmoil.

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