Apple Is a Top 5G Stock to Buy as the iPhone Juggernaut Starts Rolling
Apple's (NASDAQ: AAPL) latest quarterly report has made it clear that the smartphone giant has entered the 5G smartphone era on the right foot, with iPhone revenue jumping 65% year over year in the second quarter of fiscal 2021.
Apple sold nearly $48 billion worth of iPhones during the three months ending March 27, 2021, compared to the prior-year period's sales of almost $29 billion. Though Apple doesn't report iPhone unit sales anymore, a look at third-party data from Strategy Analytics indicates how it has become a dominant player in the 5G smartphone market.
Strategy Analytics estimates that Apple sold 57 million iPhones in the first quarter of 2021, which coincides with the company's fiscal Q2. It had sold 39 million units in the year-ago quarter. The average selling price (ASP) for each iPhone stood at $841 (by dividing Apple's Q2 iPhone revenue by the estimated number of shipments).
Source Fool.com
