“Apple’s iPhone is poised to impress yet again,” Shara Tibken reports for CNET.
“On paper, things shouldn’t look so rosy. This is an “off” quarter for Apple, still months away from releasing a buzz-generating new iPhone. Several top-tier smartphones have debuted in the last few months, and competition has never been stiffer even as the market is slowing,” Tibken reports. “Yet Apple keeps chugging along.”
“Analysts, on average, expect Apple to report it sold 35.9 million iPhones when it posts its fiscal third-quarter results after the market close on Tuesday, according to a calculation by Fortune. That represents a 15 percent increase over its results from a year ago,” Tibken reports. “‘Strong iPhone demand at the end of the product cycle speaks to high loyalty rate of the Apple ecosystem,’ said Katy Huberty, a Morgan Stanley analyst who estimates that Apple sold 39 million iPhone units in the period, above the consensus.”
“Apple’s results and its commentary on Tuesday will shed some light. Regardless, the iPhone will again be the key contributor to the quarterly results for the Cupertino, Calif., company, traditionally representing more than half of its total revenue,” Tibken reports. “Analysts polled by Thomson Reuters expect Apple to post earnings of $1.23 a share and revenue of $37.9 billion for the period ended in June. In April, Apple projected sales of $36 billion to $38 billion.”
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