No because RAM.
More to it than that.
It's almost surely based on half-precision floats.
Apple claims the A12X to be twice as fast graphically as the A10X, which was slower than the 820 and 821 Snapdragons on graphic benchmarks. In turn, we know those two are rated at about 410 - 520 single precision GFLOPS. Besides, if that were wrong and it were indeed FP32, Apple wouldn't pass the chance of claiming it was faster than the PS4 using FP16 as well, they surely love their marketing claims, after all.
More to performance than flops.
I've read somewhere that FP16 is sort of enough for mobile, but you probably know better if that claim holds water or not.
FP16 is usually opted for it's performance/power saving characteristics, it does come with a heap of caveats however.
Why do companys get away with lying like this?
Are apple really saying its FP32 is more than 1.3 Tflops ?
More to performance than flops. We have had this discussion many times prior.
Graphics Core Next is old and antiquated, it's inefficient compared to more modern designs.