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How Apple’s iPhone Business Looked in Fiscal 4Q17

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Oct. 31 2017, Updated 2:20 p.m. ET

Apple may have sold 49 million iPhones in fiscal 4Q17

Analysts expect Apple (AAPL) to have shipped ~49 million iPhones in fiscal 4Q17, but Gene Munster of Loup Ventures has estimated that firm has only sold 39 million units—20% less than the average estimates.

Munster explained that the balance of 10 million units will be shipped in fiscal 1Q18 and fiscal 2Q18 and expects iPhone demand and supply to be optimal by March 2018.

In fiscal 4Q16, Apple’s iPhone shipments fell 5% YoY (year-over-year) to 45.5 million units, and revenues fell ~13% YoY to $28.2 billion. At the end of fiscal 3Q17, the iPhone accounted for ~55% of Apple’s total revenues. Apple has sold over 1.2 billion iPhones to date.

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iPhone X will be available from November 2017

While the iPhone 8 began shipping on September 22, 2017, the iPhone X won’t be available for purchase until November 3, 2017. These two phones are expected to drive sales during the 2017 holiday season and beyond.

While analyst Rod Hall from JPMorgan Chase (JPM) expects Apple to sell 260 million iPhones in fiscal 2018, Morgan Stanley’s (MS) Katy Huberty expects shipments to rise 20% YoY in the next fiscal year. Hall had earlier expected to Apple to sell 245 million iPhones in 2018.

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