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 a year ago. The device category rose about 2% during Q4 as compared to previous year, which seems like a modest amount considering no one expected the iPhone 8 and iPhone 8 Plus to do as well as they did.
Apple said Thursday that iPhone sales rose 3 percent in the July-September quarter, a period that saw the iPhone 8 and 8 Plus come out in the final weeks. Shares, which closed at $168.11 per share, were up almost 3 percent after the report. That's higher than it expected during the same period a year ago, $76 billion and $78 billion, and slightly above analyst expectations.
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The storyline has been pushed by President Donald Trump in his many Twitter rants against his former 2016 election rival. Trump's press secretary earlier criticized Clinton for "propping up book sales with false and reckless attacks".
"The initial demand for iPhone X has been very, very strong".
GBH Insights analyst Daniel Ives said strong worldwide demand for the new smartphone, along with "complex production issues", meant the iPhone X would remain in short supply until April or May next year. Soon after people started pre-ordering the iPhone X on October 27, shipping times lengthened to as many as six weeks.
During its most recent quarter, Apple sold 10.3 million iPads and 5.3 million Macs, representing a year-over-year increase of 14% and 25%, respectively. Apple's forecasting between $84 and $87 billion in sales next quarter, which at the midpoint would be 9% higher than last year's $78.4 billion. If only we'd get Apple Watch or Apple TV sales numbers. 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. "We sold more iPhones than we expected", he said. In a quarter that's typically the calm before the holiday storm, Apple has to be happy with these results.
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