Apple returns to growth as cheaper iPads boost sales
Apple’s business has been producing record-setting revenues and profits for years now. But in the second quarter of last year its blistering period of growth came to an end. Today the company posted its third quarter earnings, and it’s clear Apple has found a way to restore some of the lost momentum. Revenue grew about 6 percent year over year, and profit was up 12 percent over the same period in 2016.
Leading the way was Apple’s iPad sales, which were up 15 percent from last year. Revenue rose just 2 percent, suggesting sales of cheaper $329 iPads were a bigger driver of the jump in sales than the new models of the iPad Pro. We posted a positive review of the cheaper iPad in April of this year, highlighting the low price as the best...