Apple’s Holiday Quarter Projections Surpass Wall Street Expectations

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Apple predicts double-digit growth in iPhone sales for the holiday season, setting the stage for a record-breaking quarter.

On Thursday, Apple CEO Tim Cook made an announcement that sales of iPhones has skyrocketed way beyond the estimates of Wall Street. The iPhone 17 is experiencing unprecedented demand despite the challenges in the supply chain, and this will lead to a rise in iPhone sales by double digits.

The September quarter saw Apple take in revenue to the tune of 102.5 billion all over the world. It is expanding its dominance in the developing economies. The company registered record sales in India, which increased in the 14th quarter, being one of the best achievements.

Tim Cook shared that,

“We also set a September quarter revenue record in emerging markets and an all-time revenue record in India.” 

Moreover, with new retail outlets opening in key markets like India and the UAE, Apple is capitalizing on a growing consumer base, further boosting its quarterly results.

iPhone 17 Leads the Charge

It is evident that the iPhone 17 is the center of attention. According to Cook, the demand for the device was one of the driving forces behind the record sales of the company, and the trend is expected to continue in the holiday quarter.

Cook said during the earnings call, "Combined with our newly launched AirPods Pro 3 and Apple Watch lineup, we are excited to share our most extraordinary product range as we head into the holiday season."

Despite challenges such as delays in shipping the new iPhone Air to China and ongoing supply chain constraints, Apple managed to exceed expectations. Cook acknowledged, "The iPhone Air did not ship to China until October 22 due to regulatory delays." Still, the company managed to deliver a stronger-than-expected performance.

Apple’s Wall Street Expectations Surpassed

Apple's forecast for the holiday quarter has exceeded analysts' expectations. Cook said the company is poised to grow its revenue by 10-12% year-over-year, with iPhone sales expected to grow by double digits. In contrast, analysts had projected a lesser growth of 9.8 percent in sales of the iPhone and 6.6 percent in the overall sales.

Apple’s momentum heading into the holiday season may help it close the gap. Investors are keeping an eye on Apple’s strategic moves, particularly in artificial intelligence (AI) features, which the company plans to integrate into its products next year. As Natalie Hwang, managing partner at Apeira Capital, remarked, "It will be interesting to see how effectively Apple converts that momentum into a durable AI and infrastructure advantage."