apple_logoAlongside today's announcement that it sold a record-breaking nine million iPhone 5s and iPhone 5c models over the launch weekend, Apple made a regulatory filing with the U.S. Securities and Exchange Commission revealing that it now expects revenue and gross margin for the current financial quarter to come in at the high end of its previously issued guidance.

On September 23, 2013, Apple Inc. (the "Company") announced that it has sold over nine million new iPhone 5s and iPhone 5c models, just three days after the launch of the new iPhones on September 20.

Apple expects total company revenue for the fourth fiscal quarter to be near the high end of the previously provided range of $34 billion to $37 billion, and expects gross margin to be near the high end of the previously provided range of 36% to 37%.

Apple's fourth fiscal quarter of 2013 runs through September 28, and the company will report earnings for the quarter in the latter part of October.

Apple's stock is currently up over 6% in pre-market trading.

Top Rated Comments

nwcs Avatar
115 months ago
So much for that "Apple artificially restricted supply" argument.
Score: 9 Votes (Like | Disagree)
mrxak Avatar
115 months ago
I'm a little surprised the stock is up 6% in pre-market trading. I thought Apple's stock always dropped with good news, because analysts always expect the impossible.
Score: 6 Votes (Like | Disagree)
BurchK Avatar
115 months ago
I don't think this has anything to do with restricted supply. This number reports the number of iPhones sold, not delivered. It could very well be that 8 million are on back order. I likely won't see the two iPhones I bought this weekend until late next month.

Except Appple can not claim they sold any iPhones until they are delivered - from their 10-K they recognize revenue

The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable, and collection is probable. Product is considered delivered to the customer once it has been shipped and title and risk of loss have been transferred. For most of the Company’s product sales, these criteria are met at the time the product is shipped. For online sales to individuals, for some sales to education customers in the U.S., and for certain other sales, the Company defers revenue until the customer receives the product because the Company retains a portion of the risk of loss on these sales during transit.

Yhus for the 2 iPhone you are waiting on Apple will not recognize revenue until they are in your eager hands. :-)
Score: 5 Votes (Like | Disagree)
musika Avatar
115 months ago
They just can't survive without Steve. :rolleyes:
Score: 4 Votes (Like | Disagree)
macaddict06 Avatar
115 months ago
Works for me
Score: 3 Votes (Like | Disagree)
milo Avatar
115 months ago
And this is exactly what people need to remember when a new product is announced and they declare it a flop based on AAPL dropping the day of the announcement.

In the end, panicked reactions on message boards mean nothing, it all comes down to actual sales. And the millions buying are a very different crowd than the much smaller group of folks posting on message boards like this one.
Score: 2 Votes (Like | Disagree)

Popular Stories

top stories 2jul2022

Top Stories: M2 MacBook Air Release Date, New HomePod Rumor, and More

Saturday July 2, 2022 6:00 am PDT by
The M2 MacBook Pro has started making its way into customers' hands and we're learning more about how it performs in a variety of situations, but all eyes are really on the upcoming M2 MacBook Air which has seen a complete redesign and should be arriving in a couple of weeks. Other top stories this week included a host of product rumors including additional M2 and even M3 Macs, an updated...
Mac Studio IO

Apple Begins Selling Refurbished Mac Studio Models

Thursday June 30, 2022 7:42 pm PDT by
Apple today began selling refurbished Mac Studio models for the first time in the United States, Canada, and select European countries, such as Belgium, Germany, Ireland, Spain, Switzerland, the Netherlands, and the United Kingdom. In the United States, two refurbished Mac Studio configurations are currently available, including one with the M1 Max chip (10-core CPU and 24-core GPU) for...
airpods pro 2 1

AirPods Pro 2 No Longer Expected to Feature Built-In Heart Rate or Body Temperature Sensor

Sunday July 3, 2022 8:07 pm PDT by
While past rumors have indicated the upcoming second-generation AirPods Pro will feature a built-in heart rate and body temperature sensor, Bloomberg's Mark Gurman has cast doubt on those rumors turning out to be true, saying instead such a feature is unlikely to come anytime soon. "Over the past few months, there have been rumors about this year's model gaining the ability to determine a...
Apple Watch 8 Unreleased Feature Thumb

Apple Watch Series 8 Model Rumored to Feature 5% Larger Display

Monday July 4, 2022 5:50 am PDT by
Apple is working on an Apple Watch Series 8 model with a larger display, according to DSCC's Ross Young and Haitong International Securities's Jeff Pu. In October last year, Young suggested that the Apple Watch Series 8 could come in three display sizes. Now, responding to a query about the rumor on Twitter, Young claims that the additional display size joining the Apple Watch lineup will be ...
macbook air m2

Exclusive: Apple Plans to Launch MacBook Air With M2 Chip on July 15

Wednesday June 29, 2022 5:23 pm PDT by
The redesigned MacBook Air with the all-new M2 Apple silicon chip will be available for customers starting Friday, July 15, MacRumors has learned from a retail source. The new MacBook Air was announced and previewed during WWDC earlier this month, with Apple stating availability will begin in July. The MacBook Air features a redesigned body that is thinner and lighter than the previous...