Apple could become the world's first trillion dollar company today

This fall Apple might launch an iPhone with two SIM trays

After the markets closed in NY on Tuesday, the Cupertino, California-based iPhone giant reported a $11.5bn profit for the three months ending in June, up 32% from the same period a year ago. Apple sold 11.6 million iPads, 41.3 million iPhones, and 3.7 million Macs during the quarter.

High-priced iPhones continued to sell well with the iPhone ASP hitting $724. iPad sales came in at 11.6 million units.

After last week's investor-led beating of Facebook - on Thursday, Facebook had the single worst day in stock market history, losing more than $120bn from its market cap as its stock tanked over 20% - Apple's numbers are likely to give a measure of relief to FAANG-wary investors. Cook said that the more expensive iPhone X was once again the most popular iPhone model this quarter.

The company's chief financial officer Luca Maestri said customers were buying costlier models, and the $US999 iPhone X was the best seller.

With a total market value of more than $US900 billion, Apple is tickling at the title of world's first trillion-dollar company.

Still, typically the three months ending in June happen to be the slowest in terms of iPhone sales and revenue, but the tech giant performed considerably well during a period where the majority of consumers might have decided not to upgrade thanks to the newest series being introduced after a couple of months.

Zimbabwe's Mugabe hopes his former party will lose election
"We can no longer believe that his intentions are to transform Zimbabwe and rebuild our nation", the president said. The winning candidate must secure more than 50 percent of the vote to avoid a run-off in September.

Luckily, a long-underappreciated Apple division is coming to the fore: Services.

"We're thrilled to report Apple's best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth". Sales in that sector rose 31 percent to $9.5 billion. This bucket - which accounts for app purchases, Apple Care and more - surged more than 30 percent year-over-year to $9.55 billion.

Apple's biggest selling products do not yet face duties stemming from the U.S. Apple never really explains how specific products in that bucket contribute to the company's overall performance, but Cook did point out on the call the Apple Watch's growth was "in the mid-40s range" this quarter.

"We are not able to catch up to demand yet and continue to add capacity for the AirPods", Mr Maestri said.

Apple's margins are facing pressure as it moves to put pricier components, such as OLED displays that show more vivid colors, into its products. The company said it expects gross margins of 38 per cent to 38.5 per cent in the fourth quarter, compared with analyst expectations of 38.3 per cent, according to Thomson Reuters I/B/E/S. Analysts are also closely watching Apple's operating expenses, which have been increasing as its research and development costs outpace its revenue growth.

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