Gary Lerude, MWJ Technical Editor
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Gary Lerude

Gary Lerude is the Technical Editor of Microwave Journal. Previously, he spent his career as a “midwife” aiding the growth of the compound semiconductor industry, from device to application, from defense to commercial. He spent 19 years at Texas Instruments, 11 years at MACOM and six years with TriQuint. Gary holds a bachelor’s in EE, a master’s in systems engineering and an engineers degree (ABD) in EE.

Cellular 4G/LTE Channel / Industry News / RFIC Channel

Apple Achieves Record Financial Performance

February 2, 2018

Reflecting the launch of the iPhone X, 8 and 8 Plus, Apple reported record financial performance for the company's first fiscal quarter of 2018, ending 30 December 2017. Revenue was $88.3 billion, 13 percent above the prior year's quarter and a 68 percent jump from the prior quarter. Operating income, net income and earnings per share also set records.

Apple revenue trend.
Apple revenue trend.

The company sold 77.3 million iPhones during the quarter, which was not a record compared to 78.3 million shipped during the prior year's quarter. While a 1.2 percent decline, Apple noted that last year's quarter comprised 14 weeks, compared to this year's "normal" 13 weeks. On a per week basis, the quarter's iPhone shipments were 6 percent above last year's quarter.

Apple iPhone shipments
Apple iPhone shipments.

The average selling price of the iPhone jumped $101, from $695 in last year's quarter to $796, reflecting the higher price of the iPhone X.

Apple's CEO, Tim Cook, said "iPhone X was the best-selling smartphone in the world in the December quarter, according to Canalys, and it has been our top-selling phone every week since it launched. iPhone 8 and iPhone 8 Plus rounded out the top three iPhones in the quarter."

Apple expects revenue for the second quarter, ending in March, to be between $60 billion and $62 billion. While a 31 percent sequential decline, the revenue at the midpoint represents 15 percent year-over-year growth.

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