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Apple reports its Q4 earnings


Net income rose 19% to $10.7 billion and earnings per share climbed to $2.07, topping forecasts for $1.87.

"We are launching the much-awaited iPhone X tomorrow".

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

Apple shares have climbed 45 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 15 percent.

Apple still was able to blast through forecasts, reporting revenue of $52.6 billion, up 12% from the year ago quarter, and easily beating analyst expectations of $50.7 billion for the September-ending quarter collected by S&P Global Market Intelligence. Device sales reached 46.677 million for iPhone, 10.326 million for iPad and 5.386 million for Mac. But we understand how it goes: a shiny new iPhone is somehow less shiny the day after launch.

Re-sellers and iPhone accessory makers generally agreed there was a buzz about the iPhone X, Apple's first phone to have a full-screen display and functions such as facial recognition security.




But the numbers that most Apple watchers were focused on were those outlining what the company expects to see for the next quarter.

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.

Apple shares have climbed with the approach of the launch date, seeing a jump this week after it said pre-orders for iPhone X are "off the charts". This is mostly due to the upcoming sales of the iPhone X, HomePod, and others.

A merchant at the Huaqiangbei electronics hub in Shenzhen, who was offering an iPhone look-a-like called the "E-Feng X" from 1,599 yuan, said sales volumes were "very good".

A larger queue formed around Apple's Sydney store for the iPhone X than the iPhone 8, released last month. Revenue hit $3.23 billion in the last quarter, up 36 percent year-over-year.

Apple could have received anywhere from nine to 12 million pre-orders for the iPhone X within the first three days of availability, according to analyst Jun Zhang of Rosenblatt Securities. Surprisingly, that's not the fastest-growing category for Apple - that would be the "other products" category that includes hardware like the Apple Watch, AirPods and Apple TV. On the plus side, you're unlikely to run out of storage any time soon and your odds of getting hold of a handset will be better: most customers avoid the highest capacity model to save a few bucks.

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