Its Apple shares have been given a big boost by the launch of iPhone X on Friday. As the latest version of Apple’s iPhone hit the world’s shelves, Apple shares have reached record levels. iPhone X, so named after the iPhone’s tenth anniversary, was launched as the company posted record sales. Apple saw a 12% increase in sales for the three months July to September, reaching the dizzy heights of $52.6 billion for the quarter.
Apple Sales Records to be Broken This Quarter
The iPhone X is apples most expensive cell phone yet, retailing at £999, or $1,306. It is believed by many that Apple will soon be the first $1 trillion company. Its current value standing at $900 billion (£688 billion). When sales of the new iPhone are added to those of the iPhone 8, the final quarter of the year, October to December, will likely break all records for the company. Apple shares will be given an even bigger boost.
Several factors have coincided to provide Apple with what should be its best-ever quarter. Sales in China have taken an upward surge, The Apple App Store has seen record sales, and, of course, the iPhone X is due to break sales records. The company has sold almost 50 million phones July to September 3% more than the same period last year. Apple shares appear about to be given another big boost.
Apple Shares Also Boosted by iPhone and Apple Services Sales
Apple shares were given a boost by iPhone sales ($28.8 billion)which accounted for over 50% of the firm’s revenue in that 3-month period. Two digit increase was seen in many of Apple’s other products: Apple Watch, Apple Mac, and iPad sales were also high. Apple’s services department (including Apple Pay, Apple Store, and music subscriptions) was up 34%, with $8.5 billion profit in the same quarter. The company expects to make $84 billion – $87 billion revenue in the next quarter.
Augmented Reality Incorporated in iPhone X
Apple’s augmented reality (AT) technology, incorporated into the new iPhone X, is an advance on Google’s Tango AR system. Its possibilities are amazing. You can get a 3D impression of how a new kitchen will look in your home before buying it. You can get an idea how new furniture will look before you part with your cash and purchase it. All in all, Apple is set for record profits and looks a good bet for more to come. Now may not be the best time to sell your Apple shares.