Surprise, iPhone X Sales Beats Expectations

The rumors were bullshit all along. The iPhone X is selling quite well. China and Japan are seeing positive figures as well.

From Apple’s Second Quarter Results:

We’re thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearables,” said Tim Cook, Apple’s CEO. “Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter. We also grew revenue in all of our geographic segments, with over 20% growth in Greater China and Japan.

I’m not surprised at all. Turns out the rumors about sluggish sales were complete bullshit after all. I believe the iPhone X couldn’t have come into the fold at a more perfect time for Apple. I do however wonder… will it be the last of its kind?

Going further into the press release, Apple’s vast piles of money sitting abroad is expensive business for them. So, Apple is going to level their debt, and incur one-time 12% tax-fee and finally move their overseas cash to execute a stock buyback (among other liability dodges).

The Company will complete the execution of the previous $210 billion share repurchase authorization during the third fiscal quarter.

Reflecting the approved increase, the Board has declared a cash dividend of $0.73 per share of Apple’s common stock payable on May 17, 2018 to shareholders of record as of the close of business on May 14, 2018.

Good for them. Too bad they didn’t move it last year at a 20% rate. Oh well. ¯\_(ツ)_/¯

Update: Because MKBHD’s tweets are fantastic