“The three months to December 2017 — the smartphone maker’s fiscal first quarter and traditionally its biggest — is the first to include sales of the new iPhone X and is expected to beat its previous quarterly record of $18bn net income in 2015,” Bradshaw writes. “Analysts at market researcher Canalys estimate Apple shipped 29m iPhone Xs in the quarter, making it the top-selling smartphone in the run-up to Christmas. Analysts forecast that Apple sold 81m iPhones in the quarter, driving total revenues up 11 per cent to about $86bn.”
“With iPhones expected to make up more than two-thirds of Apple’s total sales, some analysts are even more optimistic about the results. Morgan Stanley predicts revenues will jump 18 per cent to $92bn, with net income as high as $21bn,” Bradshaw writes. “However, a blockbuster performance in the December quarter could mean iPhone sales slow down faster this year than Wall Street is expecting. If Apple provides revenue guidance for the March quarter that comes in short of Wall Street’s current expectations of $66bn-$69bn, it faces the seemingly paradoxical prospect of its shares falling at the same time as it reports record profits.”
Much more in the full article here.
MacDailyNews Take: The consensus sales projection of 81 million iPhone units in the quarter is too low.
It’s all about the guidance. – MacDailyNews, October 21, 2008
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