Since iPhone 6S was released on Sept. 25, the flagship device from Apple sold more than 13 million units over the weekend. On Oct. 27, the Cupertino-based tech giant is scheduled to report its latest quarterly result.
Prior to the official release of Apple's quarterly result, Apple stocks plummeted by 3.2 percent and closed at $115.23. Despite this, market analysts still expect a strong result from Apple. Some predict a rise of about 32 percent per share profit to $1.88. Analysts also predict a rise in revenue to 21.3 percent or $51.1 billion.
Argus Insights CEO John Feland posted on a blog, "The recent 6S launch is shaping up to be a nothing short of a success, but Apple is used to smartphone market conquests, and the 6s line is falling short(er than the iPhone 6)."
The iPhone line of devices has been Apple's biggest cash cow for many years. The iPhone 6 and iPhone 6 Plus became Apple's most important release since it marks the company's entry into smartphones with big screens. The combined sales output of the two flagship devices also stand as Apple's bestselling product of all time. In a quarter ending in December 2014, Apple was able to sell a record-breaking 74.5 million units of iPhones, a figure 46 percent more than in the same quarter of the previous year.
For now, Apple's fourth-quarter revenue forecast is not as strong as it was in previous years. According to CNET, the continued deterioration of iPhone sales in China has severe effects in Apple's overall revenue. China is currently the biggest iPhone market. The recent stock market crash along with the unprecedented rise of high-end and low-priced devices from native companies like Xiaomi and Huawei have seriously hurt Apple's stranglehold of the region.
Analysts believe that the future of the smartphone industry lies in developing countries such as India where a majority of the populace are looking for devices with high-end specs without paying much for it.