Apple delivers blowout earnings amid COVID-19, market shrugs off iPhone delays

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"I think the economic stimulus that was in place - and I'm not just focused on the US, but more broadly - was a help," Cook told Reuters. "China remains a key ingredient in Apple’s recipe for success as we estimate roughly 20 per cent of iPhone upgrades will be coming from this region over the coming year," Daniel Ives of Wedbush Securities said in a note.Apple also announced a 4-for-1 stock split, saying it wanted to keep shares accessible to a broad range of investors. Shares soared past US$400 for the first time Thursday, though they had been proportionally higher before a 7-for-1 split in 2014.

Sales in the wearables segment that includes the Apple Watch rose 16.7 per cent to US$6.45 billion, compared with estimates of US$6.0 billion.READ: Commentary: Underwhelming AirPods Pro? Here’s why Apple users remain incredibly loyal

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