In an earnings announcement that did not seem to matter for its numbers, but more for its comments, Apple ended up delivering in a big way. The company put out some very bullish revenue estimates for Q4 which ranged as high as $52 bn, well ahead of where many thought. Apple’s CEO Tim Cook was characteristically evasive about the launch of the new iPhone, but one big laugh following a question about its launch said a lot about the reality of the iPhone 8 coming out soon. Additionally, fears about supply chain disruptions hurting the rollout of the new phone appear to be overblown. The stock rose strongly following the announcement.
FINSUM: Apple seems confident and ready in regards to its new phone. Our view is that the phone will sell well, but that the big differentiator may be in how many new eye-popping features the phone has. If it can really dazzle, then sales will sizzle.