Apple’s profits have risen to $21.7 billion as its iPhone sales and digital services continue to rise

Apple says its profit in the last quarter nearly doubled amid improved consumer spending and a “growing sense of optimism” as lockdown restrictions are eased.

The company’s Chief Executive, Tim Cook says there is “renewed hope for a better future” for customers in the US and globally.

He explains the roll-out of 5G has already made a “significant impact on how people get the most out of our technology”.

Apple shares were little changed in after-market trading following the results, but were already stronger than most forecasts.

It follows Apple and other tech giants facing heightened pressure from anti-trust enforcers around the world.

Microsoft surpasses analysts expectations

We knew this was going to be a huge earnings week, with Microsoft also revealing its earnings after the closing bell on Tuesday.

The tech giant’s growing cloud empire saw its Azure platform revenue skyrocket by 51 per cent.

Microsoft surpassed expectations, with revenue rising 21 per cent.

Microsoft’s new franchises, including gaming, security, and LinkedIn, all surpassed $10 billion dollars in annual revenue over the past three years.