Apple expects revenue for Q4 that started June...
Apple expects revenue for Q4 that started June 30 will come in “near the high end” of its previously estimated range of $34 billion to $37 billion, it said Monday in a filing at the SEC. It also expects Q4…
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gross margin will be “near the high end” of its estimated range of 36-37 percent, it said. The company sold a “record-breaking” 9 million new iPhone 5s and iPhone 5c models since they went on sale Friday, it said in a news release. Demand for the iPhone 5s “exceeded the initial supply, and many online orders are scheduled to be shipped in the coming weeks,” it said. Although Apple was “sold out of our initial supply” of the 5s, stores “continue to receive new iPhone shipments regularly,” said CEO Tim Cook. Apple is “working hard to build enough new iPhones” to satisfy demand, he said. More than 200 million iOS devices are now running the redesigned iOS 7 operating system, making it the “fastest software upgrade in history,” it also said. Apple shares closed 5 percent higher Monday at $490.64.