Apple projects record holiday sales on iphone X demand

Lynne Hanson
November 3, 2017

Apple shares have climbed 45 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 15 percent. Device sales reached 46.677 million for iPhone, 10.326 million for iPad and 5.386 million for Mac. Revenue for the period was $52.6 billion, up 12 percent from a year ago.

For the company's fiscal fourth quarter, which ended September 30, Apple reported earnings of $2.07 a share on revenue of $52.6 billion.

Of note - this quarter included the start of iPhone 8 and iPhone 8 Plus sales, but comes before the iPhone X went on sale.

Apple reports quarterly earnings after the bell, when Wall Street will scour the company's finances for signs that consumers are shelling out for new iPhones. It's the smallest revenue category for Apple, so it's easier to make big percentage gains in that fashion, but it does point to strength in the company's smaller products.

Growing iPhone sales contributed to earnings beat for the company, with Apple surpassing both revenue and profit estimates of analysts.

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But the numbers that most Apple watchers were focused on were those outlining what the company expects to see for the next quarter. This quarter's earnings will give a glimpse into the first few weeks of sales for the iPhone 8, one of Apple's newest devices.

Apple Inc forecast revenue for the holiday shopping-quarter largely above market expectations, allaying investor concerns about production delays on the eve of the launch of the highly anticipated iPhone X.

With its rear camera specs, iPhone X has managed to strike a phenomenal balance between picture quality and form factor design, in our opinion, given how far we've come today technologically.

In Singapore, there are "hundreds" waiting for the iPhone X outside Apple's freshly-opened store. For one, Apple is likely the top beneficiary of USA technology companies when it comes to a new Republican tax proposal on overseas cash.

Most Australians buyers are expected to buy the premium iPhone X on a contract, however, which could prove more challenging.

Other reports by TheDailyFarc

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