uploads/2017/11/1-25-2.jpg

Apple’s iPhone X Sales Were Strong on Thanksgiving Weekend

By

Updated

iPhone X sales last weekend

According to Rosenblatt Securities analyst Jun Zhang’s estimates, Apple (AAPL) might have sold 6 million iPhone X smartphones during the Thanksgiving weekend alone, as reported by StreetInsider. Apple doesn’t disclose its sales during the Thanksgiving period.

In fiscal 4Q17, ended in September, Apple sold a total of 46.7 million iPhones. The number includes all of the models sold. As a result, 6 million iPhone X units sold last weekend is a massive figure.

The weekend was a big one for Apple because it sold many variations of the iPhone. The holiday quarter, Apple’s first fiscal quarter, is an important quarter—as the following graph shows.

Why the holiday season is important

According to Rosenblatt Securities, Apple currently makes 3 million iPhone X smartphones in a week. According to Rosenblatt, the company might have shipped 15 million units of the iPhone X since it went on sale on November 3.

Apple is selling many more units of the 256GB iPhone X compared to the 64GB model. The former is more expensive. It could lead to a higher average selling price in Apple’s fiscal 1Q18 earnings.

Apple’s shares have risen 3.3% since the iPhone X was released. The shares have returned close to 50% in 2017, mainly due to the anticipation of the iPhone X “supercycle.” It looks like the iPhone X is living up to expectations.

More From Market Realist