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iPhone to hit record earning growth for the remaining 2018

In a research note received by Apple Insider, Apple is again going to share another highly profitable quarter. It was mainly due to high iPhone sales and great performance of Apple services. Robert Cihra who is an analyst wrote this research note.

Robert Cihra’s predictions

Previously Cihra was estimating the Apple revenue of the quarter to be $52.4 billion. But now, seeing the record-breaking performance he has shifted his estimate to $52.9 billion. Though, he maintained his forecast of 43 million iPhone units sold, with a 4 percent year-over-year gain. He also expects iPhone average selling price to rise 14 percent year over year.

In the note, Cihra added “iPhone X uptake was not able to impress the investors but they were not so disappointed by Apple’s ability to raise ASP double-digits without impacting the value of the share. Cihra predicted the growth of Apple as seen in Q2 to continue. He also estimates the revenue rising by 28 percent every year.

What about the upcoming iPhone?

In 2018, Cihra believes that the next iPhone will be launched in late September.  It is expected to have a 6.5-inch screen so most probably it will be the iPhone X Plus. Apple is also planning to release a 6.1 LCD-based iPhone. This will not have any number but only iPhone as its name.

The note speculates that Apple will release three more iPhones this year. Some of these iPhones will have OLED screen and some will have LED screens. Right now it isn’t clear.

Just before the release of Apple’s second-quarter earnings, some analysts commented about slow performance of iPhone sales. One note from an analyst of Apple indicated sluggish Apple iPhones demand. It sent Apple’s stock downwards.

But, when the earning was released all those notes were proven wrong as that quarter was the strongest. This quarter, analysts are avoiding that kind of comments. Some analysts commented about the company’s product roadmap but no analyst reported about the company’s performance.

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