Lastly, we believe upside to Street ASP numbers will start in the Mar-19 quarter as interest in XR builds. This is a near-term (1 year) positive for unit growth and, while our estimates remain unchanged, our confidence in those estimates has increased. This compares to last year when the company refreshed products accounting for 37% of revenue. the Street at less than 1%, and margins to be in line with consensus at 38.2%Įxiting tomorrow’s new product event, Apple will have refreshed products that account for about 50% of revenue in FY19.
We are also expecting 3% iPhone unit growth vs.
The biggest difference between our estimate and the Street’s is our higher ASP assumptions. The Street is currently expecting Dec-18 revenue of $93B and Loup Ventures is expecting $99B. Similar to last quarter’s 3% guide up, we expect the midpoint of revenue guidance for the Dec-18 quarter to be 3% ahead of the Street, or $96B.
Street at 47M) to be a non-event, which would be further evidence that iPhone is becoming a stable business, performing more like software than hardware. This quarter’s numbers could serve as validation for 3 of the 4 pillars of this new paradigm. We expect: We believe an upcoming paradigm shift in investing in Apple will move shares meaningfully higher over the next two years. Apple reports Sep-18 results on Thursday, November 1st.