This week, Apple will be releasing its fiscal quarter earnings report. Aside from this, Apple is also set to kick off the official pre-order and selling of the tenth anniversary iPhone later this week.
Apple Earnings Guidance
Apple is scheduled to post its quarterly earnings report on Thursday’s market close. The iPhone maker is expected to post earnings of $1.87 per share with their revenue coming at $51.17 billion to as much as $53 billion.
The company posted earnings of $1.67 per share during the previous quarter with their revenue rising up by 7% to $45.5 billion. The company experienced a surge in the revenue of their services business over the past couple of quarters as well as strong sales of the iPhone 7 and 7 Plus despite the impending release of the next iPhone units.
Although iPhone sales from the latest release are not expected to take effect for their next earnings report, the company is expected to reveal details regarding the production of their next iPhone units.
Apple Stock Movement and iPhone Pre-Orders
Although the iPhone 8 and 8 Plus received less than warm reception upon its unveiling during the annual Apple event last September, sales of the two units have reportedly picked up in the past week sending Apple shares trading higher at the beginning of the week.
The iPhone 8 and 8 Plus which was revealed to the public alongside the tenth anniversary iPhone X as well as other brand new Apple products such as the Apple Watch Series 3 and the Apple 4K TV has received a lukewarm welcome from Apple users and customers upon its release two weeks after the event as the markets anticipated the release of the iPhone X which would not be available for pre-order until later this week.
While the iPhone 8 line was not expected to receive a sudden high demand and sales orders, reports over the past week have revealed that the current sales reports were less than most expected. This sent Apple shares to trade down over the past month. Negative reviews of the Apple Watch Series 3 and reports of a supply and production concern regarding the latest iPhone units also weighed down on the stock.
However, the Apple shares hit a new high and was up by more than 3% to trade at $169.94 per share after reports of a huge demand for the iPhone X.
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