When it comes to Apple's iPhone X sales, Wall Street got it wrong

When it comes to Apple's iPhone X sales, Wall Street got it wrong

6 years ago
Anonymous $CLwNLde341

https://www.cnet.com/news/apple-second-quarter-iphone-x-sales-show-wall-street-analysts-got-it-wrong/

That's one major takeaway from Apple's earnings report on Tuesday. The company, which many feared would report dismal iPhone sales and give a soft forecast for June quarter sales, ended up surprising just about everybody -- even Apple executives themselves. iPhone unit sales, while not soaring, held their own (they rose 2.9 percent to 52.2 million). That led Apple to project revenue for the fiscal third quarter that's largely in line with Wall Street's expectations.

And that iPhone X -- which starts at $999, $300 more than the 4.7-inch iPhone 8 and $200 more than the 5.5-inch iPhone 8 Plus -- was the top-selling Apple device every week of the quarter, according to CEO Tim Cook. The iPhone X is the most expensive phone Apple has ever made.