Saturday, 18 November, 2017

Apple Earnings: iPhone Sales Up Even Before iPhone X Went On Sale

Three best Android alternatives for Apple iPhone X Huge crowds gather outside Apple store in Orchard Road ahead of iPhone X launch
Garry Little | 03 November, 2017, 00:30

"Apple is taking the iPhone franchise to a whole new level with the iPhone X, pushing the company deep into the ultra-luxury smartphone market", Drexel Hamilton analyst Brian White wrote in a note to clients ahead of Apple's quarterly report on Thursday after the bell.

As with recent quarters, one of the main sources of Apple's growth is coming from its services, which are anchored by an app store that feeds the iPhone and other devices. Apple generated $52.58 billion revenue in its fiscal fourth quarter, which ended on September 30, compared to $46.9 billion a year ago.

Apple shares rallied 3% after hours.

The iPhone X is not the only product Apple is releasing this holiday season.

We're not going to lie to you: your chances of scoring an iPhone X tomorrow are not good - especially if your heart is set on a certain colour or capacity.

But it also brings a potential stumbling block.

But Cook last week said pre-orders of the iPhone X were "off the charts", while the company's website showed delivery times pushed out to five to six weeks for the phone.

Mr Cook has described the iPhone X as the future of the smartphone, packed with technology including facial recognition, cordless charging and an edge-to-edge screen made of organic light-emitting diodes used in high-end televisions.

Even supply chain solution provider Redington India and HCL Infosystems that sell newly-launched iPhones on their partner stores were yet to send any information on iPhone X.

Finally, the grab-bag Other Products category tallied $3.2 billion in revenue last quarter, a 36 percent increase from last year's take.

Apple forecast fiscal first-quarter revenue of $84 billion to $87 billion.

Each year Apple's sales quarters generally follow a pattern - or have over the past 6 years or so.

"What Apple needs to do is manage consumer expectations so they don't get frustrated having to wait for so long for a new phone", Ives said.

At least four analysts have target prices for Apple that put its market value above $1 trillion. They are expecting the company to sell 242 million iPhones in the fiscal year ending in September 2018 - the most in the product's history. The previous record was $78 billion during the holiday quarter of 2016.

Q4 iPhone unit sales: 46 million expected by a FactSet consensus estimate. However, a lot of people queuing up outside Apple stocks leaked over the preceding various years with various customers preferring to buy online, the limited production for the iPhone 8 has noticeably been due to secondary reports.

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