Next month, Apple will release its earnings report for the current holiday quarter and, as per usual, all eyes will be laser-focused on how many iPhones Apple managed to sell. Beyond that, analysts will be taking a close look at iPhone sales in China, long one of Apple’s more important and strategic markets as it seeks to keep iPhone growth on the upswing.
Chiming in on the mater, a new report from RBC Capital Markets analyst Amit Daryanani relays that demand for Apple’s flagship iPhone X in China remains incredibly strong. Originally brought to light by AppleInsider, Daryanani further adds that the 256GB version of the iPhone X is selling more briskly than the entry-level 64GB model. All in all, this bodes well for Apple given the healthier margins Apple enjoys on its higher-capacity devices.
Beyond China, Daryanani anticipates that iPhone sales for the quarter will come in strong across the world. Especially with Apple increasing supply much faster than initially anticipated, it stands to reason that cumulative iPhone sales for the quarter will be higher than many analysts predicted early on. Indeed, iPhone X shipping times have improved to such an extent that if you place an order for a new device today (in the U.S. or U.K.), it will be delivered tomorrow.
All that said, there’s reason to believe that Apple will report a blowout quarter next month. Recall, Apple during its last earnings release said that it expects revenue for the current quarter to fall somewhere in the $84 billion to $87 range. Even if revenue falls on the lower end of that projection, it would still represent a new all-time quarterly record for revenue. For some context, Apple’s current record for quarterly revenue is $78.4 billion, a figure which was achieved during the company’s 2016 holiday quarter.