The iPhone X dear to Apple, subscriptions offer better performance

SAN FRANCISCO – Apple's sales driven by the expensive iPhone X have pushed the quarterly results well beyond Wall Street goals Tuesday, with subscriptions at App Store, Apple Music and iCloud services supporting business. The most valuable technology company is also forecasting revenue higher than expected for the fall, when it typically launches new iPhone models, rebaduring a nervous tech sector that sold last week Facebook Inc., Twitter Inc. and Netflix Inc. on their future growth. 19659004] The Californian company Cupertino reacted to a global smartphone market by launching increasingly expensive phones and diversifying into services, even though Samsung Electronics Co Ltd missed its targets for its flagship product Galaxy S9 and Huawei Technologies Co Ltd in China. Number 2 worldwide sales of smartphones.

Apple also regained growth in China, where sales grew 19%. Sales plummeted in 2016 after Chinese consumers avoided the iPhone 7, whose overall appearance differed little from its predecessor.

And a $ 20 billion stock repurchase during the quarter resulted in the decline of Apple's repurchase. $ 43 billion and surpbaded the stock market value of nearly three quarters of the S & P 500 companies.

"The lesson that the direction of Apple has taken from the iPhone X, c & # 39; is when you sell a smartphone for more than $ 1,000 "said badyst Thomas Forte of DA Davidson & Co.

Shares rose 3.7% in extended trading to $ 197.34, a record, bringing its market capitalization to $ 954 billion, and is expected to hit $ 206.49 for Apple to become the first publicly traded US corporation to exceed $ 1,000 billion, based on the number of Apple's shares at the end of the quarter., Apple has been able to reduce its number of shares since then.

Apple sold 41.3 million iPhones in the third fiscal quarter, half a million less than expected, but the average selling price of the iPhone has exceeded expectations of 304 euros, according to FactSet. Apple's financial financier, Luca Maestri, told Reuters that customers were buying more expensive models and that the $ 999 iPhone X was the best seller of the quarter.

Apple achieved a turnover of $ 53.3 billion and $ 2.18 per share respectively, according to Thomson Reuters I / B / E / S.

It also provides revenue from $ 60 billion to $ 62 billion in fourth fiscal quarter, which will include early-to-be-anticipated sales According to Thomson Reuters I / B / E / S data, announced phone models would exceed badysts by 59, $ 6 billion.

Despite the pace, James Cordwell, an badyst at Atlantic Equities, said that high selling prices could cause some concern because "there is a limit to how much Apple can develop the iPhone franchise by pushing prices . "

Apple's services include streaming music and video, where Apple faces competition from rivals including Spotify Technology SA and Netflix.

But many Apple services do not face strong rivals. Maestri told Reuters that sales of Apple Care, the company's guarantee offering, were up 27 percent from the previous year.

Hundreds of billions of other tariffs whose product categories have not yet been enumerated.

Apple is wondering whether it will be hit by the rates on purchases that the company must make, possibly related to data centers, said managing director Tim Cook calling with investors.

He credited "wearables", a category that includes wireless headphones and the Apple Watch, with increasing contributions, and the watch could be hit by the tariffs. Maestri told Reuters that Apple could not meet the demand for AirPods headsets.

Service revenues reached $ 9.5 billion, exceeding badysts' expectations by $ 9.1 billion, according to Thomson Reuters I / B / E / S. The business figure included $ 236 million dispute resolution dollars such as Apple's long-standing dispute with Samsung Electronics Co Ltd.

Apple executives pointed to the recurring nature of much of this turnover. This includes both Apple's services such as music and third-party subscriptions such as Netflix, where Apple takes a share of revenue when it handles billing.

Cook said that Apple Music has more than 50 million users. and hints at the company's video content efforts. Apple hired leading Sony Corp. television executives and began making offers for content such as a drama series with Hollywood stars Reese Witherspoon and Jennifer Aniston

Apple did not again said how he will distribute these shows, but Cook said that Apple is "thrilled that our pipeline has new services."