Apple expects its tills to be ringing to the tune of up to $87 billion this quarter.
(CCM) — Apple is expecting a sales bonanza for the rest of the year, thanks to the release of its iPhone X, which went on sale today, and its iPhone 8 models.
Tim Cook, Apple's chief executive, has predicted the company's "biggest quarter ever" in the three months to December 31, 2017, according to a BBC report. He added that the company was "firing on all cylinders", due to record purchases in the App Store, strong demand for the iPhone X, and a sales rebound in China.
Analysts had previously raised concerns that the giant Chinese market was turning its back on Apple products, preferring the lower-cost Chinese Android brands such as OnePlus, Oppo, Xiaomi, and Huawei.
Apple's shares have risen to a record high, and the company is now valued at almost $900 billion. In part that is because the company has stated that it expects to generate between $84 billion and $87 billion in revenue in the current quarter, which would be a record for the company.
In the most recent quarter, Apple's iPhone sales were up 3% compared to last year. But its other hardware products — including Mac computers, iPads, and Apple Watches — performed even more strongly, enjoying double-digit sales growth.
Apple's services division which includes the App Store and Apple music also grew strongly, with sales up 34%.
Image: © Andrey Bayda - Shutterstock.com