iPhone peak ahead, but Apple revenue on the up
San Francisco — When Apple reports results on Tuesday, investors will seek insight into upcoming iPhones and how the flagship iPhone X is performing. They also want executives’ thoughts on the growing trade dispute between the US and China. The technology giant is expected to announce fiscal third-quarter revenue of $52.3bn, according to analyst estimates compiled by Bloomberg. That is in line with the company’s recent forecast and translates to year-on-year revenue growth of about 15%. Higher average selling prices for iPhones, increased services revenue and unit sales growth for the Apple Watch should drive the expansion, analysts say. Apple sold about 41.8-million iPhones in the third quarter, up almost 2% from a year earlier, according to Toni Sacconaghi, an analyst at Sanford C Bernstein & Co. Because of the $1,000 iPhone X starting price, analysts on average are expecting iPhone revenue to grow about 17% year on year, Sacconaghi said in a recent note.
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