Production problems have marred the release of iPhone X but the company is still forecasting revenues of between $84bn and $87bn for the next quarter compared with $78.4bn for the same period past year.
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 past year.
Q1 revenue guidance: $84.9 billion expected by Thomson Reuters.
Maestri attributed the margin strength to Apple's growing services business, which brought in $8.5 billion in revenue compared to analyst estimates of $7.5 billion. The Whisper number is the Street's unofficial view on earnings.
But even the keenest iPhone X buyers might not be able to get their hands on Apple's most expensive smartphone for months to come, as Telstra revealed orders for this year's iPhones broke previous records, new Vodafone orders were delayed until after Christmas, and analysts predicted stock shortages could continue until May next year. If the iPhone X is a big hit, that could fuel growth of offerings like Apple Music and iCloud storage in coming years. The company's net income for the quarter was $2.07 per diluted share.
Stephen Paddock's brother has been arrested
According to TMZ , police were tipped off that there was child porn on Bruce Paddock's computer and obtained a search warrant. Bruce Paddock has previous convictions for vandalism, criminal threats and theft, NBC reported, citing court records.
Subsequent Apple's freshest news, people were waiting for the much-hyped iPhone X that was promoted as the eventuality of super smartphones.
Apple's market capitalization of about $868 billion makes it the world's most valuable publicly traded company.
Although Apple never splits out sales by individual model, CEO Tim Cook said that the iPhone 8 is the most popular new iPhone to date and that the iPhone 8 Plus got off to the fastest start of any Plus model. It competes with a range of revamped Echo speakers from Amazon.com Inc. and Google's Home devices. The iPhone 8 went on sale a week before the end of the September quarter, and contributed to fiscal fourth-quarter results.
Apple revealed the new iPhone X on Tuesday, September 12, 2017 for the tenth anniversary of the original iPhone. That represented 25 percent growth from the same period a year earlier when sales were $5.74 billion.
"Price appears to be a major constraint on iPhone X demand, particularly in China", Bernstein analyst Toni Sacconaghi said in a recent report that showed three-quarters of Chinese respondents were excited by the upcoming launch, but only a quarter said they planned to buy one.