Apple CEO Tim Cook said the company expects significant iPhone sales growth in the holiday quarter, forecasting a double-digit increase in performance compared to last year. The forecasts exceeded Wall Street analysts' estimates due to high demand for iPhone 17 models, despite supply delays. This is stated in the Reuters material, writes UNN.
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During an interview with Reuters, Cook said that Apple's total revenue could grow by 10-12%, while analysts expected only a 6.6% increase. According to LSEG, expected iPhone sales are to reach $75.9 billion, and total revenue – more than $132 billion in the first fiscal quarter of 2026.
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Despite supply constraints and delays in launching new models in China, the company's fourth-quarter profit exceeded forecasts: $1.85 per share against an expected $1.77. Total revenue was $102.47 billion, of which $49 billion came from the iPhone.
Cook acknowledged that delays in China were the main reason for the decline in sales in the region, but expressed optimism for further recovery:
We are very enthusiastic about China. We like the reaction to new products there and we expect a return to growth in the first quarter.
Apple is still facing a shortage of some iPhone 17 models, but the company is actively fulfilling orders.
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We are still experiencing supply constraints on several iPhone 17 models, and we are fulfilling orders as quickly as possible. This is a good problem.
The company has high hopes for the new iPhone Air – the thinnest model in the brand's history, which could be a precursor to a foldable phone, as well as the updated iPhone Pro and iPhone 17, which are expected to strengthen Apple's position in the global market in 2026.