“Apple has been on a tear in recent quarters, returning to growth, and finding massive revenue streams beyond the all-consuming iPhone,” Mike Murphy writes for Quartz.
“After posting $45.4 billion in revenue last quarter — a gain of 7% over the same quarter last year — Apple’s stock has soared. Every single one of its businesses — the iPhone, the iPad, Mac computers, services, and its miscellaneous ‘Other products’ bucket — is now the size of a Fortune 500 company,” Murphy writes. “There’s no indication that the company will slow down anytime soon.”
“Apple will report its fourth-quarter earnings (its fiscal year ends in September) after the market closes on Nov. 2, and Wall Street is expecting another bumper quarter. Analysts polled by FactSet estimated that Apple’s revenue for the quarter will be around $50.7 billion, which would be an 8% increase over the $46.9 billion it generated in the same quarter in 2016,” Murphy writes. “Apple’s iPhone 8 and 8 Plus went on sale Sept. 22 in the US, so we’ll likely get an update about how the first weekend of sales went, but Apple’s newest flagship phone, the iPhone X, does not debut in stores until Nov. 3…”
Read more in the full article here.
MacDailyNews Take: Apple’s Q118 guidance will also give us some important color on how well they see iPhone X production proceeding throughout the quarter and how well they’ll be able to supply “off the charts” demand.
As always, we’ll bring your the results as soon as they are available (simply check our home page right around 4:30pm EDT).
Apple’s conference call to discuss Q417 results is scheduled for Thursday, November 2, 2017, at 2pm PDT / 5pm EDT. We plan to cover the conference call with live notes as usual. That link will appear on our home page around 4:45pm EDT.
SEE ALSO:
How will Apple answer Wall Street’s $85 billion question? – November 2, 2017
Apple to release Q417 earnings, webcast live conference call on November 2nd – October 3, 2017
If Apple paid just a little more attention to their complete Mac line (ehem Mac Pro) they could probably bump up the Apple coffers by a few more “paltry” billion dollars.
Apple has lost its edge.