Apple Report Expects New iPhones to Jump-Start Growth

Apple Report Expects New iPhones to Jump-Start Growth

- in Technology

Apple’s chief executive, Timothy D. Cook, introduced the iPhone X in September. The device arrives in stores on Friday.

Jim Wilson/The New York Times

SAN FRANCISCO — Ten years after Apple unveiled the iPhone and embarked on an era of supercharged growth, the company lifted investor hopes on Thursday that the iPhone X would be its next blockbuster product.

As Apple reported revenue and profit increases that beat Wall Street expectations for its fiscal fourth quarter, the company said it was also seeing strong demand for the iPhone X, as well as for the iPhone 8 and iPhone 8 Plus models, which it unveiled in September.

Apple said it expected revenue for the holiday quarter, which is typically its most robust, to come in at between $84 billion and $87 billion. That forecast was well above the $78.4 billion that Apple generated during last year’s holiday quarter, which was an all-time high for quarterly revenue, and reflected confidence that people want new iPhones.

Timothy D. Cook, Apple’s chief executive, said during the earnings call that the iPhone 8 and 8 Plus had been the most popular iPhones every week since they went on sale. And in an interview, Luca Maestri, Apple’s chief financial officer, said that iPhone X production was going well and that the company “could not provide such strong revenue guidance if we didn’t have strong iPhone X demand.”

The iPhone X, which arrives in stores on Friday, is Apple’s most expensive iPhone ever, starting at $999. Its new features include a way to unlock the phone using facial recognition technology. The device is the centerpiece of a lineup of new iPhones for the holiday season.

Strong demand for the devices could give a shot in the arm to Apple, which could become the first publicly traded company to reach a $1 trillion market value but has faced more questions about its growth in recent quarters. While the iPhone once fueled Apple’s growth — its popularity underpinning other offerings like sales of services and software — more people around the world now own smartphones, and iPhone sales growth has flattened. New products, including the Apple Watch, have not been as widely adopted as the iPhone.

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