Apple’s Forecast Signals Strong Sales of New iPhones This Year
- Company sold more handsets than a year ago ahead of new models
- Revenue forecast for current quarter topped analysts estimates
Bloomberg's Emily Chang recaps her interview with Apple Inc. Chief Executive Officer Tim Cook about the company's third-quarter earnings. She speaks with Bloomberg's Julia Chatterley on 'What'd You Miss?' (Source: Bloomberg)
Apple Inc. gave a revenue forecast that highlighted resilient demand for the iPhone ahead of the launch of its new models and the growing significance of the company’s supporting businesses.
New iPhones typically go on sale in mid- to late September, which produces a few weeks of revenue that are included in the company’s fiscal fourth-quarter results. Some analysts had reduced their estimates on concern the new high-end iPhone may be delayed, but Apple’s projections on Tuesday -- and increasing sales of other products and services -- calmed those fears.