Apple iPhone X expected to drive strong rise in profits

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Apple is expected to unveil its biggest rise in profits since late 2015 with third quarter results set to hit $52.9 billion, boosted by pricier iPhones and strong sales from its lucrative app store and services business.

Analysts and mobile industry sources expect investors in the Silicon Valley giant will enjoy another quarter of significant year-on-year growth when the group reports its quarterly results on Tuesday night.

Some estimates suggest as much as 37pc growth in earnings per share. It was only last quarter that Apple broke its own record for the biggest quarterly profit of all time, despite a fall in iPhone sales.

The technology giant sold 52.2m iPhones in the second quarter of 2018,…

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