Apple has pandemic work-from-home orders and stimulus checks to thank for setting new all-time sales records across a number of its product categories.
Starting with the iPhone, which saw a decrease in sales last quarter, Apple revealed revenue for that product category grew by two percent during the third quarter.
“In April, we expected year-over-year performance to worsen, but we saw better than expected demand in May and June,” said CEO Tim Cook during the company’s earnings call. “We attribute this increase in demand to several interactive causes, including a strong iPhone SE launch, continued economic stimulus, and potentially some benefit from shelter-in-place restrictions lifting around the world,” he explained.
Yes, you read that correctly: stimulus packages. So, that means that while many of those unemployed due to the pandemic were struggling to put food on the table or pay their