There are no active ads.

Advertisement

Apple is Making a Ridiculous Amount of Money From the iPhone

by Brandon Russell | November 1, 2018November 1, 2018 2:30 pm PST

Apple on Thursday announced sales figures in its latest earnings report, which ended September 30. While the Cupertino company missed iPhone sales estimates, the company revealed it’s making more money than ever from the smartphone, which can cost as much as $1,449.

The new data doesn’t include sales for the iPhone XR, which officially launched in October. It does, however, include iPhone XS and iPhone XS sales. According to Apple, it sold 46.89 million iPhones last quarter, about a million short of analyst estimates.

The good news for Apple is that the iPhone’s average selling price (ASP) is now $793, up from $618 year-over-year. Clearly, Apple’s strategy of raising iPhone prices has worked. Apple’s iPhone XS starts at $999 while the iPhone XS Max, its largest iPhone ever, retails for $1,099.

Apple also revealed it sold 9.69 million iPads and 5.3 million Macs in the same quarter. In all, Apple reported $62.9 billion in revenue, up from the previous quarter of $53.3 billion in revenue.

“We’re thrilled to report another record-breaking quarter that caps a tremendous fiscal 2018, the year in which we shipped our 2 billionth iOS device, celebrated the 10th anniversary of the App Store and achieved the strongest revenue and earnings in Apple’s history,” said Apple CEO Tim Cook.

On Apple’s horizon is the completely redesigned iPad Pro and new Macs, including the more powerful MacBook Air with Retina display. Apple has also begun selling its most advanced Apple Watch ever, along with the colorful iPhone XR, which starts at $749—way under the iPhone XS’s starting price of $999.

Apple is forecasting a strong holiday quarter with revenue between $89 billion and $93 billion.

Follow this story: AlertMe

Apple

Brandon Russell

Brandon Russell enjoys writing about technology and entertainment. When he's not watching Back to the Future, you can find him on a hike or watching...

Advertisement

Advertisement

Advertisement