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Apple Reports Record Sales

Apple Reports Record SalesApple Reports Record Sales

Apple said it had sold more than 13 million iPhone 6s and 6s Pluses during their first weekend of availability in 12 markets, setting a record for its marquee product.

Although sales surpassed analysts’ expectations of 12 million to 13 million units, shares of Apple fell more than 1%. This suggested investors remained skeptical that Apple can improve on the demand for the previous iPhone, which propelled the company to its most profitable quarter ever, said IDC analyst John Jackson, Reuters reported.

“Topping what the iPhone 6 achieved looks like a tall order, even for Apple, with its history of outdoing itself,” he said.

The iPhone 6 had set the previous record of 10 million unit sales in its first weekend, but the figures did not include China, where regulatory problems delayed the gadget’s debut last year.

Analysts had said Apple was virtually assured to set a first-weekend record for iPhone sales with the inclusion of China, which many expect will soon be the company’s largest market.

But several analysts said the 6s figures, which also included the United States, Australia and the UK, suggested Apple was on pace to lift iPhone sales slightly from last year.

Analyst Shannon Cross of Cross Research said she was impressed by Apple’s ability to drum up consumer interest in a device with relatively modest improvements over the iPhone 6, whose new, larger screens touched off a sales frenzy.

FBR Capital Markets analyst Daniel Ives estimated that Apple sold more than two million iPhones in China over the weekend.

Financialtribune.com