“Apple Inc. has received a lot of attention for its statements about repatriating cash and slowing down older phone batteries, but investors remain focused on iPhone sales ahead of the company’s holiday-quarter earnings report,” Emily Bary writes for MarketWatch. “The world’s most valuable company is expected to report record revenues for its fiscal first quarter on Feb. 1, buoyed by sales of the $1,000 iPhone X. The flagship phone was in short supply during most of the quarter, but its lofty price should help lift Apple’s top line. Analysts are calling for revenue of $86.8 billion, up 11% from a year ago.”

“Analysts predict that the average price of phones sold during the quarter rose to a record of $752, up more than $50 from a year ago, according to FactSet,” Bary writes. “Many analysts think the average expectation is too low, though. Mizuho analyst Abhey Lamba said projections for a $50 bump in ASP underestimate the impact of the iPhone X, writing in a note to clients that “expectations seem very low.” He projects an average selling price of $780 to $790, which he thinks could lead to better than expected overall results.”

“Analysts on average expect Apple to report adjusted net income of $19.6 billion, up from $17.9 billion a year ago, according to FactSet. The consensus estimate calls for earnings per share of $3.82, compared with $3.36 for the year-ago quarter,” Bary writes. “Analysts are calling for revenue of $86.8 billion on average, up from $78.4 billion a year ago… On average, analysts are expecting that Apple sold 79 million iPhones during the quarter, generating $59.7 billion in revenue. The company sold 78 million iPhones a year ago.”

Read more in the full article here.

MacDailyNews Take: 79 million iPhone units is way too low.

SEE ALSO:
Apple likely sold over 100 million iPhones in Christmas quarter – January 26, 2018
Apple’s December quarter iPhone sales could top a stunning 100 million units – January 24, 2018
Canalys: Apple shipped 29 million iPhone X units in Q4 2017; world’s best-selling smartphone over the holiday season – January 23, 2018
iPhone X accounted for 1 in 5 iPhones sold by Apple in America last quarter – January 22, 2018
Apple to release Q118 earnings, webcast live conference call on February 1st – January 8, 2018
Apple’s iPhone X offers the best smartphone display in the world and its also the most resistant to OLED burn-in – January 2, 2018
DisplayMate: Apple’s iPhone X has the most color accurate display we’ve ever measured; it is visually indistinguishable from perfect – November 8, 2017