Apple stock is up after the company posted record quarterly profits in a bid to bolster the stock price.
The company is also looking to expand its mobile operations, and the company said it plans to launch a new phone this year.
Apple also said it expects to report fiscal fourth-quarter results in October.
Apple said it is expecting its iPhone revenue to rise by 15% to $32 billion.
The iPhone maker has had to contend with the fallout from Apple’s “supply chain” scandal.
The investigation into alleged bribery in the supply chain led to the firing of more than 50 people in the past year.
On Wednesday, Apple said that it is investigating allegations of a massive security breach in the iPhone supply chain.
“We believe that a large scale data breach occurred, and that the information in question is now in the public domain,” Apple said in a statement.
The report from the San Francisco-based tech giant also says that Apple will release its next-generation MacBook later this year and said it will begin offering the iPhone 8 in the U.S. on October 20.