All told, it was a solid quarter for Apple ahead of tomorrow's iPhone X launch. However, the situation is expected to be even worse with the iPhone X due to the number of pre-orders taken by Apple and Aussie telcos as well as a smaller shipment of units.
IPhone sales were once again top of mind when Apple released the earnings report for its fiscal fourth quarter Thursday, and the company didn't disappoint investors: Apple sold 46.7 million iPhones during its most recent quarter, which is 1.2 million more than during the same time a year ago.
Apple's revenue guidance for Q4 2017 fell between $49 billion and $52 billion, with gross margin estimated to be between 37.5% and 38%.
But investors will also be looking for color on the iPhone X, Apple's most expensive iPhone, during the company's earnings call. Ahead of Apple's earnings report, analysts on Wall St. were anticipating revenue to come in at $50.7 billion and EPS to check in at $1.87. And the report barely raises the curtain on sales of the iPhone 8 series.More news: College Football Playoff announces championship sites for 2020-23 seasons
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The 10-year anniversary iPhone will help push sales to a record high of $84 billion to $87 billion in the quarter ending in late December, Apple said in a statement.
Services includes revenue from Digital Content, Digital Services, AppleCare, Apple Pay, licensing, and "other services".
It's not hard to see why the iPhone X is in such high demand; it reinvents the company's vision for a smartphone, replacing traditional bezels with an edge-to-edge OLED screen and the antiquated home button with gestures. This was Apple's fiscal 2017 fourth quarter white ended September 30, 2017. The firm was also expected to sell 46 million iPhones, analysts said.
Still, with a little reading between the lines, Apple's fiscal fourth-quarter performance may hint at whether consumers are waiting on the new phone to splurge during the all-important holiday season. If you share that vision, there's something you need to know about Apple: it's rarely first to adopt new technology, but when it eventually introduces it, it's flawless.