Apple reports its Q4 earnings

Isaac Cain
November 3, 2017

Instead of its usual method of sending a few products to tech reviewers and mostly letting the device speak for itself, Apple is taking a decidedly different approach with the iPhone X, sending the new phone out to a wide swath of publications and angering some of the dedicated tech bloggers.

Analysts have been eager to see whether Apple will be able to balance supply and demand for the iPhone X during the crucial holiday quarter, with most saying it will likely take Apple until next year or early spring to do so.

"We're happy to report a very strong finish to a great fiscal 2017, with record fourth quarter revenue, year-over-year growth for all our product categories, and our best quarter ever for Services", said Tim Cook, Apple's CEO. That's higher than it expected during the same period past year, $76 billion and $78 billion, and slightly above analyst expectations.

The iPhone X officially goes on sale tomorrow, and die-hard fans are already lining up at Apple Stores around the country.

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Analysts on average were expecting total revenue of $50.7 billion, according to Thomson Reuters I/B/E/S. Longer queues are expected for the iPhone X launch on November 3. Apple's forecasting between $84 and $87 billion in sales next quarter, which at the midpoint would be 9% higher than last year's $78.4 billion.

Apple fiscal 4th quarter sales results are in with a return to growth in the smartphone, tablet, and notebook markets. Apple sold 10.3 million iPads, 46.7 million iPhones, and 5.4 million Macs during the quarter.

Apple shares have hit records this week, with investors predicting demand for the handset will continue in future quarters.

The iPhone X is not the only product Apple is releasing this holiday season. The Company posted quarterly revenue of $52.6 billion, an increase of 12 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.07, up 24 percent. If you share that vision, there's something you need to know about Apple: it's rarely first to adopt new technology, but when it eventually introduces it, it's flawless.

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