share price: $1,476
"surges after hours" -- CNBC
share price: $174
"reversal after hours" -- CNBC
share price: $1,140
"sinks after hours" -- CNBC
Apple posts records results ever with fewer iPhones sold. That's the headline.
Wow, all afternoon I'm hearing stories about how Apple sold less iPhones this past quarter compared to a year earlier. So, finally I get to see the numbers: Apple said the number of iPhones it sold actually fell 1% to 77.3 million units.
[Later: someone said -- "today’s quarter report is over 13 weeks. Last year (same period) was over 14 weeks." If that's accurate, 13/14 is 93%. Had Apple had one more week, another 7% might have been sold. 1.07 x 77.3 = 82.7. Maybe the analysts forgot the quarter was one week shorter. By the way, I don't believe the iPhone was available until early November; in other words, the iPhone was only around for about half the quarter. Of course, I could be wrong on all of this.]
[Later: that is accurate about the 13-week quarter. From MacRumors:
Apple beat out all other smartphone vendors including Samsung, Huawei, OPPO, and Xiaomi, but its overall iPhone shipments were down from 78.3 million in the year-ago quarter. It's worth noting, however, that Q4 2017 was a 13 week quarter, while Q4 2016 was a 14 week quarter.]Yes, this was during the holiday quarter. So, a decline is not good in this period. But I was certainly under the impression that the number of Apple smartphones sold had dropped by 20 to 25% based on all the headlines. LOL.
Having said that, the stocking stuffers really sold well: Apple Watches and Air Pods.
Something tells me, Apple will do just fine.
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