‘Staggering’ iPhone Demand Helps Lift Apple’s Quarterly Profit by 38% – Wall Street Journal

Apple Inc. surpassed even the most bullish Wall Street expectations for its holiday quarter with an improbable trifecta: selling more iPhones at higher prices—and earning more on each sale.

The Cupertino, Calif., company said it sold 74.5 million iPhones in the quarter, 46% above a year earlier, while lifting the average selling price of the…

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