Apple Inc.’s earnings on Thursday will provide the first real insight into the success of the company’s new iPhones, especially the lower-priced XR model.
The focus will be on Apple’s fiscal first-quarter forecast covering the important holiday season, when the XR is expected to be a popular gift, luring owners of older iPhones to upgrade. Apple shares rose 0.2 percent to $219.38 at 2:26 p.m. in New York ahead of the results.
The world’s most-valuable public company is expanding more into digital services and has unveiled a slew of new gadgets and accessories in recent years. But the iPhone still looms large over Apple’s fortunes. The smartphone accounts for more than 60 percent of revenue and is the hub for most of the company’s other products. Wall Street expects Apple to sell 48.4 million iPhones in its fiscal fourth quarter and 77.7 million in the holiday quarter.
The iPhone XR is Apple’s biggest hardware bet of 2018. It retains the key advances of the first iPhone X -- facial recognition and an edge-to-edge display -- but is cheaper while being noticeably larger at 6.1 inches. Prices start at $749, at least $250 less than Apple’s high-end iPhones. Some reviewers criticized the LCD display, but many analysts expect the company has hit a sweet spot on the price tag. See more...