AAPL) — Apple Inc. (NASDAQ

Nichole VegaMay 05, 2018

(NASDAQ:AAPL) announced its fiscal Q2 2018 results beating the wall street expectations in terms of revenue. Apple shipped 12.5 million iPhone 8 units, which had a 3.6 percent share of the market, followed by the iPhone 8 Plus' 8.3 million units, and 2.4 percent share.

The share repurchases in the March quarter drove Apple's cash net of debt down slightly to US$145 billion. The doubts of analysts have been kept at bay, at least temporarily. In fact, reports suggest that there could be more good news coming in for Apple in the coming months. Heading into earnings, investors were hopeful that growth in that segment could help offset the cooling global smartphone market.

This report certainly refutes numerous claims which dubbed the iPhone X a failure and a disappointment.

After all the brouhaha over tepid Apple iPhone X forecasts, it turns out that the iPhone X indeed was the most shipped smartphone in Q1 2018.

The answers to the mistaken reports of weak sales could be a fairly simple one, based on analysis of the average sales price (ASP) of an iPhone.

Also interesting: iPhone ASP dropped from the holiday quarter.

Many believe that Apple missed the mark with its latest iPhone launches.

A lot of uncertainty regarding weak iPhone X demand centered on suppliers such as TSMC and AMS.

"When it comes to iPhone battery replacement, if your iPhone has any damage that impairs the replacement of the battery, such as a cracked screen, that issue will need to be resolved prior to the battery replacement". That could lead to Apple having some more iPhones than they were able to sell right away, which would lead to a reduction in supply orders. The iPhone maker reported $2.73 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $2.69 by $0.04. Ramsay Stattman Vela & Price Inc. increased its holdings in shares of Apple by 3.3% in the 3rd quarter. The iPhone is expected to come in two storage variants - 32 GB and 128 GB.

Shareholders support Apple's effort to look beyond its signature product, the iPhone, for growth. How can the iPhone continue to defy gravity?

While Apple may discontinue the iPhone X soon, the smartphone's key features, including Face ID and Animoji, will nearly certainly trickle down to upcoming iterations of Apple's smartphone.

That seems pretty clear to me. Apple iPhone X is priced at Rs 95,390 for 64GB storage model, while the 128GB storage version costs Rs 1,08,930. Apple has a twelve month low of $142.20 and a twelve month high of $183.50.

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