Apple is primed to have a massive holiday quarter, according to financial services firm Cowen’s latest guidance.
William Gallagher for AppleInsider:
Ahead of Apple’s next financial earnings call, a Cowen investor note seen by AppleInsider says the company will exceed expectations and earn $90 billion in the quarter spanning the holiday buying season.
That’s around $3.1 billion more than previous estimates, and the company says this is predominantly due to increased demand for the iPhone plus growing Services… “The iPhone 11 product cycle… [is] off to a solid start,” it reports, “and the upcoming TV+ service supports longer term Services growth.”
Apple’s next legally-required financial earnings call is due on October 30. Cowen recommends investors look out for the call to detail “iPhone demand trends in China/India” plus information about tariffs.
MacDailyNews Note: Apple’s all-time quarterly revenue record stands at $88.293 billion (fiscal Q118, holiday quarter ended December 30, 2017).
For a doomed company, Apple doesn’t seem to be doing all that badly. I’m glad Apple has finally wised up to not go crazy with pricing every iPhone so high. Too bad Apple didn’t catch on sooner. I’m not sure these analysts can be trusted but if Apple only comes close to 2017’s holiday quarter numbers, I’ll be happy because I think expectations have been lowered for Apple. Maybe Apple will get a free pass for a change.
Apple has never been guilty of ‘pricing every iPhone so high”. In recent years has provided pricing tiers starting around $400 and going up from there. Apple added a new super-premium tier in 2017, but it did not hugely raise prices on the mainstream offering. In every year, Apple has priced the latest generation mass market iPhone at between $650 – $750 dollars.
Yeah, and the timing of that super-premium tier wasn’t really great. Even though Samsung followed not long afterwards, it was Apple that took all the heat.