How many iPhones Apple sold in its second quarter

Christopher Davidson
May 3, 2018

For the upcoming quarter, Apple projected revenue between $51.5 billion and $53.5 billion, a gross margin of 38-38.5 percent, operating expenses between $7.7 billion and $7.8 billion and other incomes/expenses of $400 million, with an applicable tax rate of 14.5 percent.

Total sales of iPhone models during the January-March period dropped 32 percent to 52.2 million units from 77.3 million units in the October-December period a year ago.

Apple shares closed higher in the US Tuesday after reporting a 16% increase in quarterly revenues amid its best ever second quarter performance. While that's not quite as high as last quarter's $796 ASP, it far exceeds last year's $654 and is a strong sign that iPhone X sales aren't almost as dismal as analysts expected. The IT firm registered resilient iPhone sales despite fears of waning global demand and also announced $100 billion in additional stock buybacks. While Luca refused to give a clear timeline for the latest buyback programme, he commented in an earnings call, "We are not giving an end date to the programme this time because the amount is very, very large.We will do it at a very fast pace but we also want to do it efficiently".

With all the dire predictions and forecasts of iPhone sales slowing down, Apple has been facing something of a PR nightmare recently.

The stock climbed 3.6 percent in after-hours trading.

"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 said during the company's earnings call.

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As long as Apple continues to sell around the same number of devices each year - 217 million iPhones, more than 40 million iPads, and nearly 20 million Macs in fiscal 2017 - it can sell users of these devices a growing list of services that integrate tightly with the hardware.

But investors were cheered by progress elsewhere - on confirmation the company was to reward shareholders through proceeds it was repatriating to the United States following tax reforms announced by Donald Trump. The company now has 270 million paid subscribers across applications and its own services, up by 100 million from the same period a year ago. The iPhone 8 and iPhone 8 Plus looked similar to the iPhone 6 from 2014, leaving a hole in Apple's iPhone sales strategy.

Apple had been seen as being under particular pressure from cheaper rivals as the iPhone 8 range and the 10th-anniversary edition iPhone X received lukewarm reviews.

"The Services segment will grow between 13 percent and 20 percent per year over the next five years driven by continued growth in existing services along with new, innovative services", Gene Munster, co-founder of Loup Ventures and a veteran Apple analyst, wrote in an email following the results on Tuesday.

"We set a new first half record and continue to put great energy there".

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