Apple Inc. (NASDAQ:AAPL) iPhones 6s Sales Wildly Successful, Analysts Praise

Apple, Inc (AAPL) iPhone 7

Apple Inc. set a launch weekend sales record last year, when it introduced big screen iPhones that were wildly successful. That record has now been broken by the new released devices – iPhone 6s and iPhone 6s Plus, Apple said today.

Global roll-out next month

Apple sold over 13m units of the new iPhones while the analysts were expecting 12m units. The sales number has been able to surpass the record set last year and also analysts’ expectations due to the availability of the phone in China on the launch day. China is the 2nd largest market for Apple after the U.S. Last year, the Chinese customers had to wait for purchasing these devices.

Apple Inc (AAPL) iPhone sales

“Sales for iPhone 6s and iPhone 6s Plus have been phenomenal, blowing past any previous first-weekend sales results in Apple’s history,” Apple CEO Tim Cook said today.

Apple iPhone 6 and 6 Plus taps the growing demand of Apple’s larger screen devices. Earlier this month, Apple said it was “on pace” to surpass the milestone of 10m units sold last year.

Apple Inc. has decided to launch the iPhone 6s and 6s Plus worldwide on October 9 after which it will be available in 40 more markets including Mexico, Belgium, Russia, Greece, and Taiwan. The next day i.e. on Oct. 10th, the phones will be made available in Bahrain, Jordan, Qatar, Saudi Arabia and UAE. On the 16th of Oct., the devices will become available in India, Malaysia and Turkey, and by the end of the year they will reach more than 130 countries.

Analysts praise Apple

Apple iPhone numbers must ease investors’ concerns over the economic turmoil in China impacting the demand, said FBR Capital Markets senior analyst Daniel Ives. “Demand out of China looks white-hot,” Ives said. This was the first year, when China was among the first countries to get the iPhone. Apple iPhone sales in China is expected to be 2m and 2.5m, says Ives. This suggests that the sales outside Chins was up around 10%.

“We believe the stage is now set to show moderate (year-over-year) growth over iPhone 6 for the coming quarters, which should be front and center for Apple investors,” says Ives.

Veteran analysts such as Bernstein’s Toni Sacconaghi say that more than reflecting the consumer demand, these numbers are a reflection of Apple’s ability to supply the phone. Patrick Moorhead of Moor Insight & Strategy said there are good chances that Apple won some of the market shares from the Korean rival, Samsung.

At around 11.40 am EDT today, Apple Inc. shares were down 1.26% at $113.30. Year to date, the stock is up over 1% while in the last one-year, they are up almost 13%.

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Aman is MBA (Finance) with an experience on both marketing and Finance side. He has work as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, playing PC games and cricket.


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