Apple sees holiday-quarter sales above Wall St, shares rise

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The Sydney store opened its doors shortly after Apple released its fourth quarter results that showed forecast revenue for the holiday shopping-quarter largely above market expectations.

After the iPhone 8's muted rollout in late September, the lines of people willing to wait overnight suggest massive demand for the iPhone X - despite its United States $1,000-plus price tag. The combo of new iPad Pro models alongside the cheap but excellent standard iPad led to 10.3 million tablets sold for Apple, up 11 percent year-over-year.

Apple was also boosted by a 12 per cent increase in sales in China, the first gain in the region in six quarters.

Subsequent Apple's freshest news, people were waiting for the much-hyped iPhone X that was promoted as the eventuality of super smartphones.

Each year Apple's sales quarters generally follow a pattern - or have over the past 6 years or so. That's down only slightly from the 11.4 million sold last quarter, during which Apple introduced new models of the iPad Pro.

"The ramp for iPhone X is going well", said Cook.

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But even the keenest iPhone X buyers might not be able to get their hands on Apple's most expensive smartphone for months to come, as Telstra revealed orders for this year's iPhones broke previous records, new Vodafone orders were delayed until after Christmas, and analysts predicted stock shortages could continue until May next year. The company posted revenue of $52.6 billion.

A merchant at the Huaqiangbei electronics hub in Shenzhen, who was offering an iPhone look-a-like called the "E-Feng X" from 1,599 yuan, said sales volumes were "very good".

Q1 revenue guidance: $84.9 billion expected by Thomson Reuters. The sales were "driven by notebook refreshes we launched in June and a strong back-to-school season", Cook said.

Wang Hao, a 24-year-old engineer in the northeastern port city of Dalian, said he ordered the new phone despite the high price tag.

The iPhone is the main profit driver for Apple, accounting for more than half its revenues, and importantly is the cornerstone for the ecosystem of other devices and services.

The organic light-emitting diode technology used in iPhone X screens is now sourced from just one supplier, Samsung Display Co., while the array of components used to make the three-dimensional sensor have never previously been manufactured in the quantities required for the iPhone X, and suppliers have struggled to ramp up production effectively. They are expecting the company to sell 242 million iPhones in the fiscal year ending in September 2018 - the most in the product's history.