Analysts expect Apple to report sales of 52 million iPhone units for fiscal Q2, up 2.4% YOY

Analysts expect Apple to report sales of 52 million iPhone units for fiscal Q2, up 2.4% YOY
After the stock market closes at 4pm in New York today, Apple will release its fiscal second quarter earnings. Wall Street analysts expect Apple to report sales of 52 million Apple iPhone units during the three month period, which ran from January through March. That would be a 2.4% hike from the 50.8 million handsets that Apple sold during the same quarter last year. It also would be a traditional decline from the previous quarter, which includes the holiday shopping season. In that quarter, Apple sold a record 77.3 million iPhone handsets, 27 million of which were the iPhone X.

With the expected slowdown in purchases of the tenth anniversary model, Wall Street expects a fairly sizeable drop in the Average Selling Price (ASP) for the iPhone, which hit $796 last quarter. That figure beat analysts' expectations at the time, and was considered a sign of brisk demand for the iPhone X. A recent report from CIRP showed that the iPhone X made up 16% of iPhone sales during Apple's fiscal Q2, down from 20% in the previous period. It also revealed that the iPhone 8 and iPhone 8 Plus combined to account for 44% of iPhone sales during the same period, up 3% from the previous quarter.

Analysts also expect a year-over-year decline of 13.7% in Apple iPad sales from 10.2 million units in the second fiscal quarter last year, to 8.8 million tablets in the 2018 period. Margins overall for Apple are estimated to come in at 38.5%. That would be the top of Apple's 38% to 38.5% guidance for the quarter. Revenue is expected to hit $60.9 billion, up 15% year-over-year.

source: SeekingAlpha


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