Apple beat sales estimates, Topped Wall Street targets and forecast revenue: Well, reports are coming that Apple on Tuesday Topped the Wall Street targets and forecast revenue when they released the quarterly results which show that the company made more than expectations. Reports are suggesting that the whole profit is driven by higher-priced iPhones and revenue from services like the App Store, Apple Music and iCloud. You all can say that this is good news for the company as they were expecting something like this and they really needed it.
As per the reports, Apple beat sales estimates in part by selling fewer but pricier iPhones than analysts expected and the reports are claiming that the company has sold 41.3 million units which is little lower than the expectations but they made a good profit. Also, the sources are saying that the average iPhone selling price hit $724, beating analyst expectations of $694 which is quite good news for the company. We are looking forward to the Yearly profits and sales.
Even, Apple Chief Financial Officer Luca Maestri told Reuters that customers were buying costlier models and the $999 iPhone X was the quarter’s best seller. You all can say that this also indicates that people are interested in the iPhoneX more than expectations. Apple posted third-quarter revenue of $53.3 billion and profits of $2.34 per share, compared with analyst estimates of $52.3 billion and $2.18 per share.
You all may already know that Apple is the world’s most valuable technology company also forecast revenue of $60 billion to $62 billion for its fiscal fourth quarter. Some reports are saying that early sales of soon-to-be-announced phone models and experts are claiming that it will beat the $59.6 billion. You all should know that the competition isn’t easy for the company because various tech companies are stealing the show from them.