Apple earnings surge as it beats Wall Street forecasts

Apple earnings surge as it beats Wall Street forecasts

It's the smallest revenue category for Apple, so it's easier to make big percentage gains in that fashion, but it does point to strength in the company's smaller products.

They also directed those in the queue to form a single line, instead of forming a large crowd outside the store. "I think you would find you could buy an iPhone X for $33 a month", he said.

The organic light-emitting diode technology used in iPhone X screens is now sourced from just one supplier, Samsung Display Co., while the array of components used to make the three-dimensional sensor have never previously been manufactured in the quantities required for the iPhone X, and suppliers have struggled to ramp up production effectively.

Apple announced two new phones in September: the iPhone X and the more affordable iPhone 8.

Apple's fourth fiscal quarter, the one that ends just before holiday shopping begins, historically has one great week of sales to report - the new iPhone released in late September. Worldwide sales accounted for 62 percent of the quarter's revenue. "That's a few coffees a week".

Apple sold more iPhones, iPads and Mac computers than it did in the same quarter a year earlier, smartphones sales climbing by about a million units to 46.7 million in the three months winding up the California company's fiscal year, according to the earnings report.

More news: Nvidia GeForce GTX 1070 Ti Release Date Announced For Early November

Analysts interviewed by AFP see signs of strong demand for iPhone X, perhaps fueled by the company's famously devoted fans who have shunned freshly released iPhone 8 models to wait for the 10th anniversary device. "I'll be very disappointed if I don't get one on the first day".

The iPhone 8 and 8 Plus phones were well received by critics but were so similar to the previous 7 and 7 Plus models that carriers reported less interest in the new phones than years past. If only we'd get Apple Watch or Apple TV sales numbers.

Of the iPhone figures cited, "we believe less than 10% of that is the 8", says Daniel Ives, an analyst with GBH Tech Research.

Even supply chain solution provider Redington India and HCL Infosystems that sell newly-launched iPhones on their partner stores were yet to send any information on iPhone X.

But in its most recent quarter, the strongest growth in hardware sales for Apple came from a surprising place: Mac laptops and desktops. All told, Apple earned $10.7 billion on revenue of $52.6 billion, compared with a $9 billion profit on revenue of $46.9 billion a year earlier.

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