*By Madison Alworth*
Apple showed that even weaker iPhone sales can't slow the technology giant down. The stock popped as much as 5 percent in after-hours trading as investors remained bullish on the tech company.
Apple reported second-quarter earnings Tuesday, and it beat on both earnings per share ($2.73 compared to estimates of $2.67) and revenue (more than $61.1 billion compared to $60.8 billion).
Though the company failed to sell as many iPhones as it expected for the quarter, sales were still up ー 52.2 million units sold compared to 50.8 million last year.
Apple is pushing to get its customers more heavily engaged with its products and byproducts by "trying to make these sticky devices, even stickier," said Chris Versace, the chief investment officer at Tematica Research.
Revenue from Apple's "other products" was $3.9 billion, and sales for the Apple Watch and AirPods were up almost 50 percent.
Overall, international sales accounted 65 percent of quarterly revenue. One of the greatest areas of growth for Apple was quarterly service revenue, up more than $2 billion from this time last year to $9.19 billion.
That, plus a $100 billion share buyback, overshadowed softer-than-expected demand for the company's iconic smartphone.
"Apple is much more than iPhone," said Versace.
For full interview, [click here](https://cheddar.com/videos/snap-and-apple-report-earnings).
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The Energy Department is making a push to strengthen the U.S. battery supply chain, announcing up to $3.5 billion for companies that produce batteries and the critical minerals that go into them.
Ed Egilinsky, managing director and head of sales and distribution & alternatives with Direxion, joined Cheddar News to discuss how bond traders are reacting to the latest consumer price index data and how they're positioning portfolios ahead of next week's release of Nvidia's earnings. Egilinsky also discussed some of the other bigger-cap companies, including Alphabet, Amazon and Apple.
