Apple Record Quarter Prompts Stock Split

Apple’s June quarter financial report is out and is shows significant growth with $59.7 billion revenue and $11.25 profit, compared to $53.8 billion and $10.0 billion for the same quarter last year. This is certainly due to high demand for computers and mobile devices as people around the world work from home. Mac and iPad sales saw double-digit growth, and online services as well.

As a result, Apple is planning a 4-for-1 stock split in August and a boost in shareholder dividends. But the wasn’t all good news, as this year’s iPhone models will come later in the year than usual. Also, Apple expects most employees to remain working from home into 2021.