Apple sees holiday-quarter sales above Wall St, shares rise

Adjust Comment Print

After the iPhone 8's muted rollout in late September, the lines of people willing to wait overnight suggest massive demand for the iPhone X - despite its USA $1,000-plus price tag. His statement is based mainly on the fact that Apple has the most advanced camera platform right now with the 6P design. Sales could have been higher if many customers hadn't been waiting for the iPhone X, which comes out Friday. Across the board, it's a strong quarter for all of Apple's major product categories.

With less than 24 hours left for the arrival of Apple's "super Premium" iPhone X in India amid heavy pre-booking, Apple premium resellers on Thursday were yet to receive the stocks to begin delivering the Rs 89,000 device (starting price for 64GB variant) to those who pre-booked it.

Apple shares have hit records this week, with investors predicting demand for the handset will continue in future quarters.

The iPad continued its return to sales growth as well, with 10.3 million units sold last quarter, beating the year-ago sales numbers by 11 percent.

The company hired two veterans from Sony TV to run its fledgling division, and according to the Hollywood trade publications, Apple is looking to spend $1 billion on originals, including a remake of Steven Spielberg's Amazing Stories TV anthology.

Apple said it sold 46.7 million iPhones in the fourth quarter ended September 30, above analysts' estimates of 46.4 million, according to financial data and analytics firm FactSet.

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.

Apple exceeded all metrics, reporting it had sold 46.7 million iPhones, and made profit of $2.07 per share on revenue of $52.6 billion.

iPhones weren't the only hardware Apple released in the last quarter, though - in fact, most of the company's product line got a pretty big shake-up.

Apple Chief Financial Officer Luca Maestri told Reuters on Thursday the company was "quite happy" with how manufacturing of the iPhone X was progressing, noting that "production is growing every week, and that's very, very important during a ramp period". Apple must also be improving its margins because the associated revenue increase was a whopping 25 percent and up 28 percent from the previous quarter. Sales in Greater China rose 12 per cent to $9.8 billion. Worldwide sales accounted for 62 percent of the quarter's revenue.