Apple reports its Q4 earnings

by Dominic Parks November 3, 2017, 0:32
Apple reports its Q4 earnings

The cheaper iPhone 8, which hit the market in September, has faced sluggish sales, but Apple has said that pre-orders for the iPhone X have been "off the charts".

With its new iPhone X launching Friday, Apple is setting the ambitious goal for itself of reinventing the smartphone as strives to fend off fierce competition from rivals, especially in China. 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.

As with recent quarters, one of the main sources of Apple's growth is coming from its services, which are anchored by an app store that feeds the iPhone and other devices.

Subsequent Apple's freshest news, people were waiting for the much-hyped iPhone X that was promoted as the eventuality of super smartphones.

Apple is expected to report earnings of $1.87/share on $51.17 billion in revenue.

We're not going to lie to you: your chances of scoring an iPhone X tomorrow are not good - especially if your heart is set on a certain colour or capacity. Revenues were up 12 per cent to US$52.6 billion.

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Nonetheless, the just-ended quarter largely became an afterthought once Apple made a decision to release the iPhone X six weeks after the iPhone 8.

Apple Chief Financial Officer Luca Maestri told Reuters on Thursday the company was "quite happy" with how manufacturing of the iPhone X was progressing, noting that "production is growing every week, and that's very, very important during a ramp period".

The smartphone is the most expensive on the market, with a top price of $1829, and features a 3D face scanner, 5.8-inch screen, glass body, and improved cameras.

Initial reviews of the iPhone X called it the best iPhone yet, although some reviewers pointed out potential glitches in FaceID, the company's new face recognition system.

A larger queue formed around Apple's Sydney store for the iPhone X than the iPhone 8, released last month. The company gave investors a guidance $84 billion to $87 billion in revenue for the current quarter. While that only represents a 2% increase year-over-year, Apple's other products more than picked up the slack. As far as timings are concerned, last year, the sale of iPhone 7 and 7 Plus started in the evening. They are expecting the company to sell 242 million iPhones in the fiscal year ending in September 2018 - the most in the product's history.


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