Apple posts monster earnings report ahead of iPhone X launch

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"We're happy to report a very strong finish to a great fiscal 2017, with record fourth quarter revenue, year-over-year growth for all our product categories, and our best quarter ever for services", said chief executive Tim Cook. However, the situation is expected to be even worse with the iPhone X due to the number of pre-orders taken by Apple and Aussie telcos as well as a smaller shipment of units. This quarter's earnings will give a glimpse into the first few weeks of sales for the iPhone 8, one of Apple's newest devices.

Apple shares rose 3 percent in after-hours trading to hit a fresh all-time high.

Growing iPhone sales contributed to earnings beat for the company, with Apple surpassing both revenue and profit estimates of analysts.

The $28.85 billion revenue from iPhone sales accounted for almost 55 percent of total revenue, which rose 12.2 percent to $52.58 billion. Including pre-orders running off-charts, and the situation recommends that Apple die-hards will have to expect hard ere they can go their fingers on an iPhone X.

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Each year Apple's sales quarters generally follow a pattern - or have over the past 6 years or so.

With its rear camera specs, iPhone X has managed to strike a phenomenal balance between picture quality and form factor design, in our opinion, given how far we've come today technologically.

Most Australians buyers are expected to buy the premium iPhone X on a contract, however, which could prove more challenging. Most analysts are predicting Apple won't be able to catch up with demand until early next year. Device sales reached 46.677 million for iPhone, 10.326 million for iPad and 5.386 million for Mac.

"What Apple needs to do is manage consumer expectations so they don't get frustrated having to wait for so long for a new phone", Ives said. That said, Apple during the recent September quarter managed to sell 46.6 million iPhones. The previous record was set in 2015 when Apple shipped 231 million iPhones, thanks to larger models introduced just before the fiscal year began.