Analyst Commentary

Apple exceeds performance expectations amid rumors of slow iPhone sales

Apple exceeded Wall Street expectations in 1Q18 by increasing revenue 15.6% year-to-year to $61.1 billion. The iPhone still represents the majority of Apple’s revenue, 62.2% in 1Q18, and iPhone revenue grew 14.4% year-to-year to $38 billion. Despite slower unit growths, the iPhone X’s higher average selling price (ASP) buttressed revenue — a well-planned strategy by Apple. The iPhone X may not continue to sell a lot of units after its sales surge at the end of 2017, but TBR believes it was an overall success for Apple despite Wall Street assert...

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