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Long queues outside Apple stores ahead of iPhone X launch
03 November 2017, 12:33 | Francis Delgado
Apple CEO Tim Cook. Apple
Now seeing as how the iPhone has always been Apple's primary revenue driver, it's no surprise that quarterly iPhone sales is the metric analysts typically pay most attention to.
"A trillion-dollar market cap may now be in Cook's sights in light of these results and guidance around iPhone X", said Daniel Ives, an analyst at GBH Insights, referring to Apple Chief Executive Tim Cook.
Zhang and his team compared Apple's production ramp schedule to the five to six week wait time for an iPhone X to create a range for the number of reservations the firm could have processed within 72-hours for its flagship iPhone.
The iPhone X comes a decade after the original iPhone, the product that powered Apple's rise to become the world's biggest technology company with a market capitalization of $862 billion. Updated MacBook Pro models helped move 5.3 million Macs, up 10 percent from a year ago.
If Apple falters, investors are likely to dump its stock after driving the shares up by 45 percent so far this year on the expectation that the iPhone X will be the company's biggest hit yet. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.87 per share.
Optus product managing director Ben White also warned "we expect our initial iPhone X stock to sell out very quickly" as supplies were "limited".
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.
Apple said Thursday that iPhone sales rose 3 percent in the July-September quarter, a period that saw the iPhone 8 and 8 Plus come out in the final weeks.
Finally, the grab-bag Other Products category tallied $3.2 billion in revenue last quarter, a 36 percent increase from last year's take. By comparison, Apple shipped almost 217 million iPhones in its just-completed fiscal 2017. Apple does not break out unit sales for Apple Watch but Cook said growth was over 50%. The previous record was $78 billion during the holiday quarter of 2016.
iPhone sales make up about half of the revenue the company brings in (because duh, they're amazing). For one, Apple is likely the top beneficiary of USA technology companies when it comes to a new Republican tax proposal on overseas cash.
Apple has invested heavily in greater China - historically its third-largest market behind the Americas and Europe - and has a nascent customer base in India.
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