Apple Projects Record Holiday Revenue on iPhone X Demand

  • Apple Projects Record Holiday Revenue on iPhone X Demand

Apple Projects Record Holiday Revenue on iPhone X Demand

With earnings season in full swing, Apple today released its earnings results for the recent September quarter, and all in all, Tim Cook and co. have reason to smile. The device category rose about 2% during Q4 as compared to a year ago, which seems like a modest amount considering no one expected the iPhone 8 and iPhone 8 Plus to do as well as they did.

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.

Analysts were projecting Q1 revenue of $85.31 billion.

The iPhone X officially goes on sale tomorrow, and die-hard fans are already lining up at Apple Stores around the country.

It's not hard to see why the iPhone X is in such high demand; it reinvents the company's vision for a smartphone, replacing traditional bezels with an edge-to-edge OLED screen and the antiquated home button with gestures. Most analysts are predicting Apple won't be able to catch up with demand until early next year. The combo of new iPad Pro models alongside the cheap but excellent standard iPad led to 10.3 million tablets sold for Apple, up 11 percent year-over-year. Apple said it expects revenue of $84 billion to $87 billion for the first three months of 2018, which would be a record quarterly sales and indicate healthy consumer demand for its latest iPhone lineup. On the plus side, you're unlikely to run out of storage any time soon and your odds of getting hold of a handset will be better: most customers avoid the highest capacity model to save a few bucks. Soon after people started pre-ordering the iPhone X on October 27, shipping times lengthened to as many as six weeks.

The redesigned Apple iPhone X gets rid of the Home button and adds a 3D face scanner.

Analysts believe Apple can pull off the juggling act.

The Cupertino, California-based company said it had net income of $2.07 per share.