Apple's jaw-dropping quarter is a win across the board (and investors get some sugar)
![_The scene at Apple, Google, and Facebook offices yesterday [laflor/E+ via GettyImages]_](https://cdn.robinhood.com/static_content/mwphzyq69oso/en-US/assets/files/76LEgtpQOLlt6KeVGt0x2v_1_GettyImages-643285752.jpg)
![_The scene at Apple, Google, and Facebook offices yesterday [laflor/E+ via GettyImages]_](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
No imposter syndrome here... Apple just showed off why it deserves to be Earth's most valuable company. The Fruit demolished earnings expectations.
- Sales were up 54% to $90B, a record for the January to March quarter.
- Profit more than 2X'd to $24B, notably higher than Wall Street expected.
Winners across the keyboard... Apple saw double-digit sales growth across all product categories (even iPad) for the second quarter in a row. Mac revenue soared 70% to a fresh record, as you upgraded your WFH life. iPad sales were up 79%, as you distracted your toddler with the tablet. And Services revenue (think: Music, TV, Books) reached an all-time high.
- iPhone was the star chef in Tim Cook's kitchen, serving up expectation-smashing sales growth.
- iPhone sales soared 65% to $48B (more than half of Apple's total sales). The new 5G-enabled iPhone 12 fueled a sweet upgrade cycle.
Big profits can come back to investors... Investors own a piece of the company pie, so they can share in the company's profit. After this killer quarter, Apple is sharing the love with investors: it authorized $90B in stock buybacks, much more than it did the last two years. By buying back a large amount of its own shares (reabsorbing them), a company can improve its stock price by reducing the numbers of shares outstanding. Another way to reward shareholders is through paying dividends: and Apple just raised its dividend by 7%.