Hey, it turns out that Apple isn’t going to be strapped for cash after all. That’s a relief, eh?

Technology giant Apple reported its best-ever fiscal second-quarter sales, despite fears that demand for its iPhone X – with a selling price starting at $999 – had begun to cool.

Sales of 52.22 million iPhones were up from 50.76 million last year — a 2.9 per cent increase — confounding rumours suggesting demand for its iPhone X was in decline.

Average selling prices for iPhones were $728, compared with $655 a year ago – an increase of more than 11 per cent, suggesting Apple’s iPhone X helped boost prices.

Sales in China rose 21 per cent from a year earlier to $13bn, despite fears of a trade tariff on devices such as the iPhone.

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