Published: Mon, November 05, 2018
Finance | By Kristine Clayton

Apple Will Not Disclose The Number Of Units Sold From Next Quarter

Apple Will Not Disclose The Number Of Units Sold From Next Quarter

Hewson, however, pointed to a "rather twisted sense of priorities" as analysts expect the company to bring in revenue of $90bn next quarter but also obsess about unit numbers over product prices. Analysts were looking for $92.7 billion, according to data compiled by Bloomberg.

When asked to clarify the company's decision not to publish unit shipments, Apple CEO Tim Cook said: "This is a little bit like if you go to the market and you push your cart up to the cashier and he or she says, how many units do you have in there?"

Quarterly earnings per diluted share reached $2.91, up 41 per cent. However, this number was slightly below what Wall Street analysts were predicting. iPad sales were 9.7 million in the quarter, down 17% from a year ago. This is down from around 1 million recorded during the same period past year.

It's clear that Apple is making more money by selling the same or fewer units of its devices. It upgraded the features of the X with the $999 5.8-inch Xs.

The change apparently was triggered by Apple's frustration with investors' fixation on its iPhone sales while glossing over other key areas, such as the robust growth in its services division that collects commissions on app sales and handles subscriptions to its music-streaming service. With a starting price of US$749, it's expected to be a popular holiday gift, luring owners of older iPhones to upgrade.

Apple reported another quarter of record revenue, showing resilience after major technology stocks took a beating in recent weeks, but was cautious in the upcoming critical three-month holiday period as it tries to manoeuvre through less-than-ideal economic fundamentals. Now, the average sale price for an iPhone is $793, up drastically from $618 in the same quarter past year.

Analyst Walter Piecyk from BTIG said that the strength in average selling price in the quarter just ended suggested that Apple was targeting unit sales behind Wall Street estimates.

Despite the record figures, shares in the firm sunk in after-hours trading - a fall blamed on a disappointing forecast for the important Christmas season. Revenues were $62.9 billion in the quarter, also ahead of the Street's estimates. iPhone unit sales is where the company's results faltered in the eyes of the investment community.

The Other Products category saw revenue jump 31 per cent to $4.2 billion in revenue, likely on demand for Apple's Watch.

At that event, the Apple boss was bullish on the future of the iPad, but the latest figures show tablet sales for the firm were down 6% on this time a year ago, with revenue down 15%.

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