Apple Inc on Wednesday forecast sales for the crucial holiday shopping quarter that beat Wall Street expectations, with Chief Executive Tim Cook saying that new iPhone 11 models were off to “a very, very good start” as sales of AirPods, Apple Watches and streaming services continue to rise.
Apple said it expects $85.5 billion to $89.5 billion in sales for its fiscal first quarter that ends in December, with a midpoint of $87.5 billion that is above analyst expectations of $86.9 billion, according to IBES data from Refinitiv.
In an interview with Reuters, Cook said that the revenue guidance was based on strong sales of services and wearables, as well as promising early sales for the iPhone 11, iPhone 11 Pro and iPhone 11 Pro Max released last month. Cook said the forecast also reflects the company’s belief that the United States and China will resolve their trade dispute.
“I don’t know every chapter of the book, but I think that will eventually happen,” Cook told Reuters. “I certainly hope it happens during the quarter, but we’ll see about that.”
MacDailyNews Take: Hopefully this quarter for a “Phase One” U.S.-China trade deal, at least!