Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Apple (AAPL) Sells 10 Million iPhones In Opening Weekend

Published 09/24/2014, 12:16 AM
Updated 07/09/2023, 06:31 AM

In Apple’s opening weekend for iPhone 6 sales, they announced they had sold over 10 million.  This is a record for Apple(NASDAQ:AAPL) but was in line with analyst expectations. The 10 million in sales this year beat last year’s iPhone 5S/5C sales of about 9 million.

The 4.7” iPhone 6 and the larger 5.5” iPhone 6 plus went on sales in retail stores a week later on September 19. Apple had said earlier that it received more than four million preorders of the two new iPhones on Sept. 12 when it started accepting orders.

Apple chief executive Tim Cook said he "couldn't be happier" with the iPhone sales, saying that they "exceeded our expectations."
 
The iPhone sales were so popular that some of the preorders weren’t counted in the first weekend sales since the order were still waiting to be filled.  The shortages were more common with the larger sized iPhone 6 plus, which comes with a 5.5” screen.
 
"Sales for iPhone 6 and iPhone 6 Plus exceeded our expectations for the launch weekend, and we couldn’t be happier," says Apple CEO Tim Cook. "While our team managed the manufacturing ramp better than ever before, we could have sold many more iPhones with greater supply and we are working hard to fill orders as quickly as possible."
 
One aspect of the iPhone debut that is raising eyebrows are that the new phones are still not for sale in China.  There are sights where residents from Hong Kong are sneaking them into mainland China and selling iPhones up to a price of $3,000.
 
Hong Kong authorities said Sunday that they foiled an apparent attempt to smuggle HK$3 million ($387,000) worth of high-end electronics—including at least 138 new iPhones—that were being loaded onto a speedboat in a rural coastal area opposite the Chinese shore. 
 
Last year, the iPhone 5s and 5c were immediately available in China, but Apple has not said when the latest models will be available there.
 
Market Share
 
From a global look, the Android operating system dominates in market share. But in the U.S., the iPhone is the No. 1 device, with 41.9% market share, compared to 27.8% for runner-up Samsung (LONDON:0593xq) and its Galaxy line.

In Q2 2014, Android held an 84.7% market share, iOS held an 11.7% market share, followed by Windows Phone, BlackBerry (NASDAQ:BBRY) OS, and others.
 
Worldwide Smarthphone OS Market Share
 

 
Stock Analysis
 
We currently rank Apple as a Zacks Rank #3 (hold) and have seen an average earnings surprise of 6.51% over the past year. 80% of analysts have upgraded their earnings estimate for the current quarter ending in September, as well as next year.  The consensus EPS for the current quarter is about $1.27 per share anticipating a 7.88% growth YoY, but we will have to see if this changes based on this impressive showing for their signature product.
 

 
Apple vs S&P 500 2 Comparative Chart

Original post

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.