FINANCIAL TIMES: Explosive iPhone sales among the middle class in China and other emerging economies propelled Apple ahead of Wall Street’s forecasts for the fifth successive quarter, as it pledged to return another $70bn to shareholders…
“I’ve never seen as many people coming into the middle class as they are in China and that’s where the bulk of our sales are going,” said Tim Cook, Apple’s chief executive. Sales from emerging markets rose 58 per cent, year on year, and now make up just under 40 per cent of Apple’s overall revenues…
The Apple Watch sold out within hours of going on sale two weeks ago. In an interview with the Financial Times, [finance chief Luca ] Maestri said that he hoped supply would balance demand for the Watch “by the end of the quarter”, in June. “We are working very hard to catch up with demand,” he said.”… (more)
