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Apple reports its Q4 earnings

03 November 2017

The company's net income rose to $10.71 billion, or $2.07 per share, in the quarter, from $9.01 billion, or $1.67 per share, a year earlier. Analysts surveyed by Zacks had expected revenue of $83.31 billion.

Mr Cook has described the iPhone X as the future of the smartphone, packed with technology including facial recognition, cordless charging and an edge-to-edge screen made of organic light-emitting diodes used in high-end televisions.

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". Indeed, wait times were already falling on Thursday in several major markets, including China.

Apple closed out its fiscal year posting a profit of US$48.35 billion, up 5.8 per cent, on revenues of US$229 billion, a rise of 6.3 per cent.

iPhone X pre-orders at both carriers were "backordered", according to their websites, but Vodafone showed delays of six to eight weeks. That suggested strong demand and limited supply with Apple saying demand was "off the charts". That left them up 45% this year.

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Apple's revenue guidance for Q4 2017 fell between $49 billion and $52 billion, with gross margin estimated to be between 37.5% and 38%. Analysts were looking for 38.5%. The HomePod speaker is also forthcoming. It competes with a range of revamped Echo speakers from Amazon.com Inc. and Google's Home devices.

IPhone sales were once again top of mind when Apple released the earnings report for its fiscal fourth quarter Thursday, and the company didn't disappoint investors: Apple sold 46.7 million iPhones during its most recent quarter, which is 1.2 million more than during the same time previous year.

"People are really anticipating this phone because it's the 10th anniversary version and it has more changes and modifications", said Gary Yiu, manager of the iGeneration smartphone shop at one Hong Kong mall. "We had double-digit iPhone growth in numerous emerging markets".

Sales of its Mac computers rose 25% to $7.17bn, the best year ever for the product line, driven largely by sales of the Macbook Pro. The 8 went on sale at the very end of the most recent quarter.

Apple for years has sought to make the release of its new phones a landmark event.

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When contacted, a representative from iWorld from Kamla Nagar said they did not have any iPhone X stock yet. It would also set a new quarterly sales record for the company.

"The ramp for iPhone X is going well", said Cook.

For the current quarter ending in January, Apple said it expects revenue in the range of $84 billion to $87 billion. "So, if the launch is tomorrow, the iPhone X units will arrive tomorrow or later tonight", a senior Apple executive told IANS.

The innovation may prove an important step on the path to Apple's potential next big product, smart glasses, for which CEO Cook has created a dedicated team.

One of Apple's latest customer lock-in tools is an updated mobile operating system supporting augmented reality features and apps that can super-impose images and information onto a user's view of the real world. Apple's research and development spending climbed 17% in the three months through September to $3 billion.

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Apple reports its Q4 earnings