How many iPhones did Apple sell last quarter?

The analysts’ estimates range from 39.8 million to 44 million. Average: 41.3 million.

Apple’s earnings are just around the corner, and for once the analysts are not obsessing about how many iPhones the company sold last quarter. That’s because they’re obsessed with the next iPhone, the rumored-encrusted device with the OLED screen, the four-figure price tag and the ship date that keeps slipping.

Meanwhile, Apple keeps selling old iPhones by the tens of millions, which is a good thing for investors because the iPhone at last report still accounted for 63% of Apple’s revenue.

The stock took a big hit last year when Apple reported negative iPhone sales growth for three quarters in a row. That streak ended in December when iPhone sales hit a new record. And although iPhone revenue grew in the March quarter thanks to rising average selling prices, unit sales fell once again. That makes four out of the last five quarters.

This quarter could be close. The average estimate among the 24 Apple analysts I’ve heard from so far—17 Wall Street professionals and 7 independents—is 41.3 million, higher than last year’s 40.4 million, but not by much.

Here’s what that looks like in a bar chart:

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Below: The individual analyst’s estimates—pros in blue, independents in green. 

Click to enlarge. 

We’ll find out who was closest to the mark when Apple reports its Q3 2017 earnings, about 30 minutes after the markets close on Aug. 1. I’ll be monitoring the earnings call, and you can too. Click here.


One Comment

  1. Robert Paul Leitao said:

    In the March quarter iPhone sell through was about 52 million units as Apple drew down channel inventory by about 1.2 million units. In the year prior, sell through was about 51.65 million units.

    In the June quarter one year ago, iPhone sell through was over 44.4 million units as Apple reduced channel inventory by over 4 million units in the period.

    If the March quarter sell through rate remained seasonally consistent through the June quarter, Apple will have sold through in the range of 44 million iPhones in the June quarter. What will determine reported unit sales in the context of analyst estimates is the drawn down of channel inventory in the period.

    July 21, 2017

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