How To Get An iPhone X On Launch Day

The iPhone accounted for $28.8 billion in revenues, fueled by the introduction of the new iPhone 8 models and a rebound in sales in China.

When contacted, a representative from iWorld from Kamla Nagar said they did not have any iPhone X stock yet.

iPhones weren't the only hardware Apple released in the last quarter, though - in fact, most of the company's product line got a pretty big shake-up.

But this year, Apple shifted its sales strategy to introduce two new slightly improved models, the 8 and 8 Plus, and a third phone, the X. iPhone 8's went on sale September 22, but Apple held back the big guns for November 3, when the state-of-the art, $999 X hits store shelves.

At Wednesday's $166.89 stock price, down 1.3 percent from a record high, the Cupertino, California company's market capitalization stood at $862 billion.

Apple's stock, which has risen 45 percent this year, closed at $168.24.

Apple edged closer to a $1 trillion valuation today as the technology giant's quarterly earnings blew away expectations, pushing its share price to a new high in after-hours trading. By comparison, Apple shipped almost 217 million iPhones in its just-completed fiscal 2017.

Nonetheless, the just-ended quarter largely became an afterthought once Apple chose to release the iPhone X six weeks after the iPhone 8.

For Q1 2018, Apple forecasts revenue between $84 billion and $87 billion and a gross margin between 38 percent and 38.5 percent. Maestri also told Reuters the company had doubled its revenue in India during the fiscal fourth quarter, though he did not give any details.

Apple notes in their earnings report that Services revenue in their fiscal 4th quarter of 2017 included "a favorable one-time adjustment of $640 million due to a change in estimate based on the availability of additional supporting information".

Finally, the grab-bag Other Products category tallied $3.2 billion in revenue last quarter, a 36 percent increase from last year's take. Apple does not break out unit sales for Apple Watch but Cook said growth was over 50%.

This strong performance led to total revenue of $52.6 billion, up 12 percent from one year ago; net income of $10.7 billion was likewise up 19 percent year-over-year. The previous record was set in 2015 when Apple shipped 231 million iPhones, thanks to larger models introduced just before the fiscal year began.

Apple's cash hoard now stands at $268.9 billion.

Related Articles