Despite a weak outlook for the sales of the recently released iPhone 8 and 8 Plus as the markets anticipated the release of the premium iPhone X, sales of the two recent iPhone units have reportedly picked up in China which happens to be one of the company’s biggest markets outside the United States.
Bright iPhone X Outlook
Aside from the growth of iPhone sales in China following a decline for the past couple of quarters in a row, reports have also revealed a renewed demand for the iPhone X which will be released in November, two months later than the iPhone 8 and 8 Plus released two weeks following the event held last September 11.
According to various reports, sales of the iPhone in China have grown by 40% year over year with almost 11 million deliveries during the past three months which is higher than Apple’s sales of the iPhone 7 during the previous year. Apple’s performance has been noted by analysts to have declined during the past six quarters as China’s smartphone market grew with the emergence of brands such as Oppo and Xiaomi.
However, due to the anticipation of the iPhone 8, 8 Plus, and the iPhone X, Apple is projected to grow further in the country in the coming months and quarters while some have warned regarding the possibility of Apple not being able to sustain this growth until the holiday quarter.
Apple Inc shares rallied during Monday’s session following reports of high iPhone X pre-orders. The device released to celebrate the tenth anniversary of the iPhone’s released will be launched at the first week of the month. The iPhone X is set to be the Apple’s most expensive iPhone yet with the device being offered at a starting price of $1,000. Apple shares traded to a new intraday high of $168.07 on Monday.
Apple Third Quarter Report
The iPhone maker is scheduled to release its fiscal fourth-quarter earnings report on Thursday after the bell. Apple Inc is expected to post earnings of $8.99 per share on a revenue of $227.5 billion. An earnings beat from the company could send its shares trading higher than its previous intraday high. During Apple’s third fiscal quarter, the company was able to post a growth of seven percent with their earnings coming in at $1.67 per share. Apple’s revenue also beat most estimates after it reported a revenue of $45.5 billion with factors such as strong iPhone 7 sales and sales in their services sector contributing to their growth.
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