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

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

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

Apple closed out its fiscal year posting a profit of US$48.35 billion, up 5.8 per cent, on revenues of US$229 billion, a rise of 6.3 per cent.

When contacted, a representative from iWorld from Kamla Nagar said they did not have any iPhone X stock yet.

Apple opened pre-orders for the iPhone X on October 27 and has said demand has been "off the charts", although some analysts have been anxious about supply chain issues that might prevent the company from making enough phones to satisfy demand.

Nonetheless, the just-ended quarter largely became an afterthought once Apple made a decision to release the iPhone X six weeks after the iPhone 8. It would also set a new quarterly sales record for the company.

The Sydney store opened its doors shortly after Apple released its fourth quarter results that showed forecast revenue for the holiday shopping-quarter largely above market expectations.

In the past few days, several media reports have claimed that Apple is facing a huge supply gap primarily for two reasons: difficulties in assembling the new facial identification software and 3D camera, and "off the charts" pre-orders for iPhone X after the Apple fraternity didn't make the expected beeline for iPhone 8 and 8 Plus.

Analysts interviewed by AFP see signs of strong demand for iPhone X, perhaps fueled by the company's famously devoted fans who have shunned freshly released iPhone 8 models to wait for the 10th anniversary device. "Less than a coffee a day at one of these nice coffee places".

"We are launching the much-awaited iPhone X tomorrow".

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"We're going to get as many of them as possible to the customers as soon as possible", he said.

Q4 iPhone unit sales: 46 million expected by a FactSet consensus estimate.

Cook stressed that the devices have been selling well, but admitted the staggered launch of two new iPhone models marks a new approach for the company with certain unknowns.

Even supply chain solution provider Redington India and HCL Infosystems that sell newly-launched iPhones on their partner stores were yet to send any information on iPhone X.

Of the iPhone figures cited, "we believe less than 10% of that is the 8", says Daniel Ives, an analyst with GBH Tech Research.

"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", said Luca Maestri, Apple's chief finance officer.

The increase in iPhone sales, combined with an 11% increase in iPads sold and continued growth in sales from services like Apple Pay and iCloud, helped push up Apple's overall sales by double-digit percentages.

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