Wall Street’s iPhone X Sales Projections Were Haywire

May 3, 2018
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For the past few weeks, there had been rampant speculation that iPhone X proved to be too pricey for the general consumers and that Apple’s 10th anniversary phone wasn’t selling well.

Wall Street expected dismal iPhone X sales numbers, while analysts predicted that iPhone’s days of being the king of the smartphones were over. All the speculation and fears were mostly based on the huge price tag that the bezel-less iPhone carried: $999.

However, Apple’s earnings report for the quarter revealed that the iPhone X was Apple’s top-selling iPhone, beating Apple’s own iPhone 8 which costs $300 less and iPhone 8 Plus which costs $200 less. And such was the case every week of the quarter despite the fact that iPhone X is the most expensive iPhone Apple has produced till date.

iPhone unit sales did not really rise exponentially as they did when the iPhone 6 was released, but they’ve held on their own pretty well. Numbers have risen to 52.2 million units, which is a 2.9 percent growth year over year.

However, the report even surprised the Apple CEO and executives:

“We were surprised somewhat that through all of this period of time that the iPhone X winds up as the [best] selling, most popular [device] for every week … since the launch” Cook said in a conference call with analysts on Tuesday.

Apple is expected to rake in sales of $51.5 to $53.5 billion for the current quarter, as expected by analysts in a poll by Yahoo Finance.

“Since we split the line with the launch of iPhone 6 and 6 Plus back in 2014, this is the first cycle that we’ve ever had where the top of the line iPhone model has also been the most popular,” Cook noted

Are you using Apple’s latest iPhone with the most advanced technology? What are your views on it? Let us know in the comments below!

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