Published: Fri, November 03, 2017
Sci-tech | By Jose Becker

Apple Earnings: iPhone Sales Up Even Before iPhone X Went On Sale

Apple Earnings: iPhone Sales Up Even Before iPhone X Went On Sale

The Cupertino, California-based company said it had net income of $2.07 per share. Still, there has been news that Apple force is facing significant product difficulties with the iPhone X.

iPhones sales continued growing, albeit not in rocket-sled fashion.

Analysts have been eager to see whether Apple will be able to balance supply and demand for the iPhone X during the crucial holiday quarter, with most saying it will likely take Apple until next year or early spring to do so.

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.

The organic light-emitting diode technology used in iPhone X screens is now sourced from just one supplier, Samsung Display Co., while the array of components used to make the three-dimensional sensor have never previously been manufactured in the quantities required for the iPhone X, and suppliers have struggled to ramp up production effectively.

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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.

But in its most recent quarter, the strongest growth in hardware sales for Apple came from a surprising place: Mac laptops and desktops. Mac revenue totaled $25.85 billion for fiscal 2017. By comparison, Apple shipped almost 217 million iPhones in its just-completed fiscal 2017.

Apple's revenue guidance for Q4 2017 fell between $49 billion and $52 billion, with gross margin estimated to be between 37.5% and 38%. "This was our biggest year ever in most parts of the world", he said. Apple's music business has "turned the corner", according to CFO Luca Maestri, and iCloud revenues grew by double digits. Across the board, it's a strong quarter for all of Apple's major product categories.

Apple is counting on the iPhone X to drive even higher-than-usual sales during the first nine months of next year - a scenario that might not play out if production problems persist and impatient consumers turn instead to phones from Google or Samsung. And the report barely raises the curtain on sales of the iPhone 8 series.

Now all eyes are on the next quarterly result, which will have two months of sales of the X, and 3 months of the 8 and 8 Plus. Sales in Greater China rose 12% to $9.8 billion.

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