Apple's Bottom Line Boosted by Strong Growth in This Massive Smartphone Market

Apple's (NASDAQ: AAPL) fiscal 2021 fourth-quarter earnings may not have wowed Wall Street -- a supply chain crunch put the brakes on the tech giant's sales growth -- but there was a lot to like in the company's stellar report.

Apple recorded sharp jumps in revenue and earnings. Its top line shot up 29% year over year to $83.4 billion and earnings soared 62% to $1.24 per share on the back of robust demand for its products. The global chip shortage and COVID-19-driven manufacturing restrictions kept Apple from delivering stronger numbers, but they couldn't prevent the company from registering terrific growth in the world's second-largest smartphone market: India.

Image source: Getty Images.

Continue reading

Source Fool.com