Apple shakes off worries about weak iPhone sales

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03 November, 2017

Services and software continue to burn brightly in Apple's universe, bringing in a record $8.5 billion last quarter, and outshining last year's revenues by an incandescent 34 percent.

Now seeing as how the iPhone has always been Apple's primary revenue driver, it's no surprise that quarterly iPhone sales is the metric analysts typically pay most attention to.

Apple fiscal 4th quarter sales results are in with a return to growth in the smartphone, tablet, and notebook markets.

Apple Inc (AAPL.O) Chief Executive Tim Cook quashed concerns recently about muted demand for the iPhone X, saying pre-orders for the 10th anniversary smartphone were "off the charts", but it might be the company's market capitalization that needs a bigger graph. It's the smallest revenue category for Apple, so it's easier to make big percentage gains in that fashion, but it does point to strength in the company's smaller products. However, a lot of people queuing up outside Apple stocks leaked over the preceding various years with various customers preferring to buy online, the limited production for the iPhone 8 has noticeably been due to secondary reports. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.87 per share.

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%.

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Did you pre-order an iPhone X? By comparison, Apple shipped almost 217 million iPhones in its just-completed fiscal 2017.

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. Apple does not break out unit sales for Apple Watch but Cook said growth was over 50%. The previous record was set in 2015 when Apple shipped 231 million iPhones, thanks to larger models introduced just before the fiscal year began.

Nearly two-thirds of Apple's sales, 62 percent, came from worldwide sales.

The company is now sitting on a cash pile of $268.9bn, nearly all of it held overseas in lower tax rate jurisdictions. The company's net income rose to $10.71 billion in the fourth quarter from $9.01 billion a year earlier. Sales in Greater China also rose by 12 percent and by 5 percent in Asia Pacific.

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