One of the most successful products in the history of tech has been the iPhone. It was voted as the most influential gadget in TIME magazine’s list of 50 most influential gadgets of all time. It revolutionized the tech industry to produce high quality touch screen devices and brought on the concept of an app store. Steve Jobs spoke true when he said at a keynote that it’s hard to remember back when there was no app store. The iPhone is the number one money maker for Apple in its impressive roster of products and it is expected to have sold 1 billion units.
Apple’s last quarterly report mentioned that a total of nearly 947 million iPhones had been sold since 2007. According to Wall Street Analysts, Apple will highlight a further 40 million units sold in its third quarter earnings report meaning 987 million units sold. It will also show 13 million units sold in the next three months bringing the total to a billion.
This will land the iPhone in the list of one of the most successful products in history. Not many things can sell a billion units. Now technically one iPhone model hasn’t sold a billion units but since it is a series of models with the same name and basis it is considered the same product. Apple already reported a billion active devices in April this year. That included phones, tablets, laptops and watches.
iPhone Through The 2000s and 2010s
iPhones have successively outsold the last model. The iPhone 5 outsold the 4S and the 6 and 6 Plus outsold the 5S. However, last quarter, Apple reported a drop in revenue for the first time in 13 years since 2003. This was also due to a drop in iPhone sales for the first time and Apple Watches which have declined in sales by 55%. Things may look up with this billion units announcement however, some analysts say this won’t be enough. Simply put, the iPhone is expected to sell this well but as of late it hasn’t inspired investor confidence.
Apple stocks and the iPhone 8
2017 is the tenth anniversary of the iPhone. The iPhone 8 that is meant to mark the tenth anniversary of the original might give the Apple stocks a boost but for now, the market isn’t being kind. Apple expects an 18% drop in its revenue this quarter compared to last year. It expects an earning of $41 to $43 million compared to the $49.6 million it made last year. Shares are currently trading at around $98 after touching a high of $100 in June. The current price devalues the company according to some analysts. It’s certainly much lower than the all time high of $132.54* it reached last May.
There hasn’t been anything extremely new from the big A in quite a while. Even the next iPhone doesn’t even seem to have that spark. Nevertheless, the iPhone 7, the second generation Apple Watch and the new MacBook Pro are coming next month. With them may come a price bump in shares.
Apple is expected to unveil the quarterly earnings at 1:30 Pacific Time followed by a conference call with CEO Tim Cook and CFO Luca Maestri.