- Title: Apple forecasts above estimates, shares hit new record
- Date: 2nd August 2017
- Summary: CUPERTINO, CALIFORNIA, UNITED STATES (FILE) (REUTERS) VARIOUS OF APPLE SIGNAGE ENTRANCE TO APPLE CAMPUS HEADQUARTERS APPLE FLAG SAN FRANCISCO, CALIFORNIA, UNITED STATES (FILE - SEPTEMBER 07, 2016) (REUTERS) APPLE CEO TIM COOK ON STAGE AT APPLE EVENT
- Embargoed: 16th August 2017 00:06
- Keywords: Cupertino iPhone sales quarter Apple HQ results Apple stocks company
- Location: CUPERTINO, CALIFORNIA, UNITED STATES, LONDON, ENGLAND, UNITED KINGDOM, MUMBAI, INDIA, BORDEAUX, FRANCE
- City: CUPERTINO, CALIFORNIA, UNITED STATES, LONDON, ENGLAND, UNITED KINGDOM, MUMBAI, INDIA, BORDEAUX, FRANCE
- Country: USA
- Topics: Company News Markets,Economic Events
- Reuters ID: LVA0016SBTSG7
- Aspect Ratio: 16:9
- Story Text: Apple Inc. forecast current-quarter revenue largely above Wall Street estimates on Tuesday (August 1), helping to allay investor concerns about a possible delay in the launch of the iPhone's 10th-anniversary edition later this year, and sending its shares to an all-time high.
The world's most valuable technology company beat on every major top line metric, reporting better-than-expected fiscal third-quarter iPhone sales, revenue and analysts' earnings per share estimates.
The stock climbed above its intraday record high in late trade, up about 6 percent to $159.
Apple is widely tipped to adopt higher-resolution OLED displays for the latest iPhone, along with better touchscreen technology and wireless charging - which could come with a $1,000 plus price tag.
The company forecast total revenue of between $49 billion and $52 billion for the current quarter, while analysts on average were expecting $49.21 billion, according to Thomson Reuters I/B/E/S.
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