Apple’s capitalization reached $900 billion after the beginning of iPhone X sales
On November 3, sales of the jubilee model of smartphones Apple IPhone X in 55 countries of the world started. The novelty was greeted with great enthusiasm by the public: huge queues lined up in front of the shops to buy the flagship first.
Despite the fears, the price of the new smartphone did not scare off the iPhone fans. The cost of the new smartphone varies from $999. Tim Cook thinks that such a price is absolutely not overestimated, given that with installments for a year, the smartphone will cost only $33 per month. The Apple’s CEO compares the purchase of the iPhone X with the daily purchase of high quality coffee.
Against the backdrop of a successful start of sales, Apple's shares rose to $173.48, which resulted in the company's capitalization exceeding $900 billion. This is a record market value for US companies.
Growing demand for Apple’s shares also spurred the company's quarterly report, which surpassed analysts' expectations. According to the results of the fourth quarter of 2017 financial year, the company's net profit is $48.35 billion, which is almost 3 billion more than in the same period last year. The sales report also exceeded forecasts: in the fourth quarter, $46.7 million of iPhone was sold against the expected $46.4 million.
The report shows data for September 30 inclusive, that is, long before the start of sales of the iPhone X. Analysts believe that due to the demand for a new flagship, Apple has every chance to become the first company in the technology sector, whose capitalization will exceed $1 trillion.