When it comes to Apple’s iPhone X sales, Wall Street got it wrong

“Turns out the iPhone X isn’t too pricey after all,” Shara Tibken writes for CNET. “That’s one major takeaway from Apple’s earnings report Tuesday.”

“iPhone unit sales, while not soaring, held their own. They rose 2.9 percent year over year to 52.2 million phones. That led Apple to project revenue for its fiscal third quarter, which ends in June, that’s largely in line with Wall Street’s expectations,” Tibken writes. “And that iPhone X — which starts at $999, or $300 more than the iPhone 8 and $200 more than the iPhone 8 Plus — was the top-selling Apple device every week of the quarter, according to CEO Tim Cook. The iPhone X is the most expensive phone Apple has ever made.”

“In the weeks leading up to Apple’s results, analyst after analyst cut earnings estimates and warned the iPhone boom times could be over. They based their fears on results from Apple’s component suppliers, including Samsung, almost universally warned about weakness in the mobile market,” Tibken writes. “They were wrong… ‘Since we split the line with the launch of iPhone 6 and 6 Plus back in 2014, this is the first cycle that we’ve ever had where the top of the line iPhone model has also been the most popular,’ Cook noted, firing back at Wall Street worries the iPhone X is too expensive to sell in high numbers.”

Read more in the full article here.

MacDailyNews Take: Obviously, Apple priced iPhone X too low. As owners will tell you, iPhone X is certainly an amazing value.

Why was iPhone X so successful at $999 despite a slew of fake news? – May 2, 2018
Uh, yeah, about those iPhone X ‘concerns’ from analysts: Never mind – May 1, 2018
Apple beats Street with best Q2 ever – May 1, 2018
Apple’s iPhone X isn’t selling well – or is it? – April 21, 2018
Apple’s iPhone X to be discontinued this year, analyst claims – April 20, 2018
Morgan Stanley: Apple stock may fall on ‘materially’ weaker iPhone sales – April 20, 2018
Apple’s iPhone X made 5 times the profit of 600 Android OEMs combined – April 18, 2018
Apple’s iPhone captured 86% of global handset profits in Q417; iPhone X alone took 35% of global handset profits – April 17, 2018
Bernstein: Ams AG is biggest winner in Apple’s TrueDepth Camera system – April 10, 2018
Apple’s iPhone X is the UK’s most popular smartphone – April 9, 2018
Apple’s iPhone X sales continue to disappoint, some analysts say – March 22, 2018
Ignore the iPhone X naysayers – March 10, 2018
Will the naysayers admit they were wrong about Apple’s iPhone X? – February 5, 2018
Do iPhone X sales spell trouble for Apple? – January 30, 2018
Apple supplier says report of iPhone X production cuts was overstated – January 30, 2018
Another January, another misleading iPhone supply cuts story from Nikkei – January 29, 2018
Apple stock drops after Nikkei report of iPhone X production cut – January 29, 2018
Reports of Apple cutting iPhone X orders make no sense – January 2, 2018
Apple stock tumbles on one poorly-sourced report of low iPhone X demand – December 26, 2017
Apple and suppliers shares drop on report of weak iPhone X demand – December 26, 2017


  1. Wall Street got exactly what it intended. Disseminate fake news to drop stock 10%+ percent > scare off retail investors > institutions buy low. Mission achieved.
    Mission achieved Katy H.

  2. Bloomberg misinterpreted the Samsung earnings call that OLED panel orders were weak, thinking that Apple was the company ordering panels, when we know Samsung itself, is the biggest customer for OLED panels. That’s because Samsung operates its units as their own income centers.

  3. Every single quarter they will deliberately get iPhone sales wrong for their own personal benefit. Of course, they’ll continue to use supply chain rumors to prove their point despite the fact that those rumors are practically useless.

    Instead of being ignored, those rumors are spread all over the internet for a couple of weeks before Apple earnings. I suppose it’s OK as long as Apple continues to buy back shares while the share price drops. Fake news is relegated to being a minor annoyance for loyal Apple shareholders.

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