Apple Recent Sales Suggest iPhone 8 To Hit All Time High – Money Pacers
Apple Recent Sales Suggest iPhone 8 To Hit All Time High

Apple Recent Sales Suggest iPhone 8 To Hit All Time High

Apple iPhone 8 sales

Apple said Tuesday that fiscal third-quarter unit sales of its iPhone rose 2 percent, to 41 million, from a year ago, above expectations. That’s a reverse from the second quarter in which iPhone sales surprisingly went down.  Apple sold $24.85 billion worth of iPhones in the period, compared with $24.05 billion a year ago.

That estimate suggests Apple is likely to launch its newest iPhone model — expected to be called the iPhone 8 — in September, despite earlier rumors of a possible delay.

As I already told you, Apple guidance for Q4 FY2017 was between $49 billion and $52 billion. If Apple hits that target, it means it’ll make anywhere between $2 billion and $5 billion more money during the September quarter than last year.

Apple’s stock climbed above its Intraday record high to $159.10 after the company reported better-than-expected iPhone sales, revenue and earnings per share.

The stock price move was expected to help drive the Dow Jones Industrial Average over the 22,000 mark on Wednesday.

Apple also said it hit a milestone of 1.2 billion iPhones sold.

 The April-June quarter is traditionally a soft one for Apple as the market waits for the September launch of new iPhone models. But Tuesday’s results show that iPhone buyers may be less inclined than they once were to delay purchases until a new model is out.
The iPad product lines also showed unexpected strength, service revenue continues to grow at a healthy clip, and even the much-maligned Apple Watch showed a 50 percent sales increase.
Apple is widely tipped to adopt higher-resolution OLED displays for the latest iPhone, along with better touchscreen technology and wireless charging – which could come with a $1,000 plus price tag.
 The company forecast total revenue of between $49 billion (roughly Rs. 3,14,198 crores) and $52 billion (roughly Rs. 3,33,452 crores) for the current fourth quarter, while analysts on average were expecting $49.21 billion, according to Thomson Reuters I/B/E/S.
 Apple’s fourth quarter generally includes first-weekend sales of the company’s latest devices.
The forecast “makes it fairly certain that at least some new iPhone models will be released on the normal schedule,” said analyst Jan Dawson of Jackdaw Research. “That doesn’t necessarily mean all new models will go on sale then, or that they’ll all be in abundant supply, but I would think it means that at the very least the successors to the current phones will be available.”
I keep hearing the disheartening rumor that Apple won’t have iPhone 8 ready at the same time as the iPhone 7S and iPhone 7S Plus, but I’m still expecting a September launch event with all three phones present. You’ll just not be able to buy the iPhone 8 (the phone you really want) a later date, like in October.
Let’s keep an eye out for what September brings.
Don Briscoe
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Don Briscoe

Finance educator, advisor, and leading voice in the global financial literacy movement.Founder and editor of lives and enjoys life with his family in New York.
Don Briscoe
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