Apple Forecasts Faster Sales Growth, Strong iPhone Demand Despite Glum Economy

Apple Forecasts Faster Sales Growth, Strong iPhone Demand Despite Glum Economy
The Apple Inc. logo hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, on Oct. 16, 2019. Mike Segar/Reuters
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Apple Inc. on Thursday said parts shortages are easing and that demand for iPhones is unceasing despite consumers tightening other spending, helping it top Wall Street expectations and forecast faster sales growth ahead.

The Silicon Valley giant’s shares rose 3.5 percent after hours following the release of the results.