“Going into Tuesday’s earnings report, most expected Apple to delay the launch of its next flagship iPhone, with rumors calling for an October release date, if not later,” Roger Cheng writes for CNET. “But the normally conservative Apple surprised everyone by offering a cheery forecast for the current quarter, with revenue ranging from $49 billion to $52 billion, above Wall Street’s forecast of $49.2 billion.”

“That forecast is important because it suggests that some sort of new iPhone will launch in the period, which runs until the end of September,” Cheng writes. “Otherwise, there’s no way its existing product line could generate those numbers, which represent an increase over the $46.9 billion it posted a year earlier. ‘There’s simply no way to achieve the kind of growth their guidance suggests without that,’ said Jan Dawson, an analyst at Jackdaw Research.”

“While we may see new iPhones in September, they could be an upgraded version of the iPhone 7 and iPhone 7 Plus, the usual addition of an ‘S’ to its name. Dawson said it would be hard for Apple to hit its revenue forecast without a new high-end iPhone. But the company could still hold back the rumored radically different iPhone 8 in October or later,” Cheng writes. “Apple usually schedules an event in early September, so we’re likely just a few weeks away. ”

Read more in the full article here.

MacDailyNews Take: 1. Not all rumors are created equal.

2. The “S” stands for “Stupid.” As in: Apple marketing is stupid. They should have ditched the obviously self-defeating “S” nomenclature years ago.

3. And, yes, as we wrote yesterday in the very minute that Apple’s report was released: “Strong guidance implies an on-time iPhone launch (not significantly delayed, if at all).”

SEE ALSO:
How Wall Street analysts are reacting to Apple’s earnings beat – August 2, 2017
Apple jumps more than 6%, set to open at record high after earnings beat – August 2, 2017
Apple shares jump 6% to record high after earnings beat – August 1, 2017
MacDailyNews presents live notes from Apple’s Q317 conference call – August 1, 2017
Apple beats Street – August 1, 2017