Saturday, 18 November, 2017

Apple fanatics might have to wait longer for the iPhone X

Apple India revenue doubles on-year for Sept quarter, most iPhone SE models sold in India made locally Early morning line-up for new iPhone X
Lucas Bell | 03 November, 2017, 00:14

Subsequent Apple's freshest news, people were waiting for the much-hyped iPhone X that was promoted as the eventuality of super smartphones. Apple sold a whopping 46.7-million iPhones, up from their ever-so-slightly lower 45.5-million units sold during this same quarter one year ago.

IPhone sales were once again top of mind when Apple released the earnings report for its fiscal fourth quarter Thursday, and the company didn't disappoint investors: Apple sold 46.7 million iPhones during its most recent quarter, which is 1.2 million more than during the same time previous year.

"Apple's year-over-year revenue growth rate accelerated for the fourth consecutive quarter and drove EPS growth of 24 percent in the September quarter", Apple's CFO Luca Maestri added. Analysts on average were expecting $84.18 billion, according to Thomson Reuters I/B/E/S.

"We couldn't be more excited as we begin to deliver our vision for the future with this stunning device", said Apple CEO Tim Cook about the iPhone X.

Consensus estimates from Zacks' showed analysts expected earnings of $1.87 per share and revenues of $51.17 billion. Surprisingly, that's not the fastest-growing category for Apple - that would be the "other products" category that includes hardware like the Apple Watch, AirPods and Apple TV.

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The current camera specs help the iPhone X to “strike a phenomenal balance between picture quality and form factor design”, says Kuo.

Apple shares surged over 3% in after-hours trading.

Mr Ives predicted Apple would sell 50 million iPhone X handsets in pre-orders alone - 10 million more than he initially predicted - creating a "defining product launch" for the company.

Most Australians buyers are expected to buy the premium iPhone X on a contract, however, which could prove more challenging. The company's net income for the quarter was $2.07 per diluted share. Revenue came to $52.6 billion, an increase of 12 percent year-over-year.

I don't know about you, but I'm pretty stoked to see exactly how well Apple does next quarter.

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