Economy

IPhone 8 release date CONFIRMED for September, Apple earnings call hints

IPhone 8 release date CONFIRMED for September, Apple earnings call hints

The results came during what is historically Apple's softest quarter - a time when consumers often hold off buying iPhones in excitement for an autumn release of a new device.

Apple has been looking at other markets it can operate in to expand its main revenue drivers beyond the iPhone, which made up $24 billion of Apple's $45 billion revenue in Q3 2017 - 53% of Apple's sales.

Apple stock popped 6% in after hours trading Tuesday following the earnings report, effectively adding almost $50 billion to its market cap.

Apple's September-quarter sales forecast implies that the company will not be late with the iPhone 8 launch, as has been rumored, RBC Capital Markets analyst Amit Daryanani said in a report titled "What iPhone Delay?"

The company said iPhone sales rose 1.6% to 41.03 million in the third quarter ended July 1, above analysts' average estimate of 40.7 million units, according to FactSet StreetAccount.

"With revenue up 7 percent year-over-year, we're happy to report our third consecutive quarter of accelerating growth and an all-time quarterly record for Services revenue", said Tim Cook, Apple's CEO, in a statement sent to MobileSyrup. Services includes revenue from the App Store, Apple Music, AppleCare, and Apple Pay, among others.

The company reported sales of 11.4 million iPads, a 15% year-over-year increase.

More news: EC seeks report from Gujarat govt over Congress' allegation of poaching

Macs only saw a 1% increase in units, from 4.252 million to 4.292 million, but the PC lineup brought in 7% more revenue, increasing from $5.239 billion to $5.592 billion.

The all-encompassing services - including Apple Music, iTunes, AppleCare, and the App Store, among others - remained the star of the show with a 22 percent increase in revenue from this time previous year.

Apple will launch their new iPhone 8 some time this fall, we will also see a new iPhone 7S and 7S Plus. That number is an even bigger increase, 28 percent, from the last quarter's sales of 8.92 million iPads.

In a note to investors on Tuesday, analyst Steven Milunovich said that UBS expects "some iPhone channel fill in Sep", though there's "doubt OLED will be out".

On a geographic basis, revenues were still lower in China, down 10 percent year-on-year to Dollars 8.00 billion.

The news was enough to send shares in the world's most valuable company up close to 6% in after-hours trading - to $159 a share - adding close to $40bn to the value of the company.


  • Bitcoin split on the horizon

    Bitcoin split on the horizon

    Supporters say their project is necessary because planned changes that could expand bitcoin's capacity are not sufficient. Right now it's up to the miners - if they find they can generate new blocks profitably, the cryptocurrency will thrive.
    Guys pick who 'Bachelorette' Rachel Lindsay should choose

    Guys pick who 'Bachelorette' Rachel Lindsay should choose

    Thankfully, yesterday, during a " Men Tell All " episode, Rachel had a chance to share her thoughts with Lee and America. Later, the ongoing feud between single dad Kenny and racist tweeter Lee was resurrected yet again.
    Gas prices continue to climb

    Gas prices continue to climb

    Today, South Carolina continues to register the lowest average in the nation at $2.02, followed by Alabama at $2.03. Gasoline prices in MA have shot up 3 cents for the second straight week as slumping gas prices appear to be over.
  • UCF football player loses scholarship for posting videos on YouTube

    UCF football player loses scholarship for posting videos on YouTube

    De La Haye could sue the NCAA in an effort to restore his eligibility, according to the Sentinel . He added: "They wanted me to give my money up that I made, which is insane ".
    U.S.  tests missile defence system

    U.S. tests missile defence system

    The latest test moves up the timetable of the nation launching a reliable nuclear-capable intercontinental ballistic missile. Pacific Air Forces said the U.S.is willing to use "rapid, lethal and overwhelming force" against North Korea if necessary.
    Priebus Allies: White House Chaos 'Unsustainable,' Trump 'Demeaned' Him

    Priebus Allies: White House Chaos 'Unsustainable,' Trump 'Demeaned' Him

    Lindsey Graham of SC , a frequent Trump critic, welcomed Kelly as "one of the strongest and most natural leaders I've ever known". After news of Priebus' exit, Ryan said his friend "has left it all out on the field, for our party and our country".
  • Teen opens emergency exit, jumps from jet at San Francisco Airport

    Teen opens emergency exit, jumps from jet at San Francisco Airport

    Sophia Gibson, of San Jose, said people sitting next to him were shocked when he jumped out of the plane and onto the wing. A flight attendant stood in front of the open exit to ensure people did not fall out while leaving the plane, he said.
    Is '13 Reasons Why' Helping Kids Kill Themselves?

    Is '13 Reasons Why' Helping Kids Kill Themselves?

    Ayers , PhD, of San Diego State University, and colleagues July 31 in a JAMA Internal Medicine research letter . The authors wanted the series retro-fitted with these changes, and included in the planned second season .
    Vettel: Raikkonen was 'a lot faster' than me

    Vettel: Raikkonen was 'a lot faster' than me

    Spaniard Carlos Sainz was seventh for Toro Rosso with Mexican Sergio Perez eighth and Force India team mate Esteban Ocon ninth. Paul Di Resta was called in to drive Felipe Massa's Williams auto after the Brazilian driver was too unwell to take his seat.
  • Couple who defamed wedding photographer ordered to pay $1.2m in damages

    Couple who defamed wedding photographer ordered to pay $1.2m in damages

    She said that she typically booked nearly 100 weddings a year but after their angry campaign she only booked two weddings in 2015. When the verdict was read I felt a little bit relieved, but most importantly I feel my reputation was restored to myself.
    Vietnamese manufacturing PMI moderates in July

    Vietnamese manufacturing PMI moderates in July

    New export business increased at the second-strongest rate in the history of the survey, beaten only by the reading in April 2010. July's final manufacturing PMI for the eurozone was 56.6, down from the 74-month high of 57.4 recorded in June .
    Discovery Communications: Revenues Up 2%; Net Income Drops 8%

    Discovery Communications: Revenues Up 2%; Net Income Drops 8%

    The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link . Each produces net profit margins in the high teens, with Discovery earning a net profit of $1.2 billion previous year .