“Apple is set to beat its own record for the most profitable quarter in corporate history when it reports earnings on Thursday, with analysts forecasting net income of at least $19bn,” Tim Bradshaw writes for The Financial Times.
“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
SEE ALSO:
Apple earnings: Forget taxes and batteries, the $1,000 iPhone X remains the story – January 26, 2018
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