Analyst says the number of iPhone units sold in a quarter is not as important as the Average Selling Price9
Wall Street is all strapped in and ready to buy or sell Apple's shares in bunches. Tomorrow, after the market closes, the company will report its fiscal third quarter earnings. Traditionally, this is the weakest period of the year for sales of Apple's smartphone since most consumers are awaiting the new models to be unveiled in September. As we noted the other day, the consensus of 17 Wall Street and independent analysts is that Apple will report sales of 42.05 million units during the period from April through June. That would represent a small 2.4% year-over-year gain.
A recent study done by CIRP found that 26% of Apple consumers paid more than $900 for their phones in March. That was sharply higher than the 5% that paid $900 and up for their phones during the previous year. That an increasing number of consumers are willing to pay $900 or more for their smartphones should show up in the Average Selling Price figure that Apple will report tomorrow.
Apple reported an ASP of $728, an 11% year-over-year increase from the $658 Apple reported in 2017's fiscal Q2. The number of iPhone units sold by Apple last quarter will still be the headline figure tomorrow afternoon, and will still drive the stock up or down after hours Tuesday. But if Apple disappoints and reports fewer iPhone units were sold than expected during the quarter, you might want to check to see if the Average Selling Price rose before you dump your Apple shares.During its fiscal second quarter,