Apple fanatics might have to wait longer for the iPhone X

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Apple shook off some fears about waning iPhone sales, soaring past estimates for its fourth-quarter earnings and posting sales increases in every product category.

Following the Apple's iPhone 8 hit with limited advertising entirely over the world, WHere Apple has presently speculated on its next gift that is "iPhone X", which is arranged to run on the purchase on the November 3.

For investors in Apple, which is still among the most widely held stocks in the country, that may quell worries about iPhone 8 sales, and indicate that the higher price of the iPhone X will keep Apple rolling in cash even if demand for the standard iPhone drops.

As with recent quarters, one of the main sources of Apple's growth is coming from its services, which are anchored by an app store that feeds the iPhone and other devices.

The X goes on sale Friday.

"I've got goosebumps - it's another great quarter, tremendous momentum and we've got the iPhone X to look forward to", Hank Smith, chief investment officer at Haverford Trust, which owns Apple shares, said in a Bloomberg Television interview. Analysts surveyed by Zacks had expected revenue of $83.31 billion.

Each year Apple's sales quarters generally follow a pattern - or have over the past 6 years or so.

Apple's upbeat results suggest the company is on track to deliver the biggest profit ever recorded by a U.S. company in the next quarter, which included the all-important holiday shopping season and the release of its latest iPhone.

"We are launching the much-awaited iPhone X tomorrow".

IPhones usually account for about two-thirds of Apple revenue and the devices are a hub for a growing suite of other products and services from the company.

Apple still was able to blast through forecasts, reporting revenue of $52.6 billion, up 12% from the year ago quarter, and easily beating analyst expectations of $50.7 billion for the September-ending quarter collected by S&P Global Market Intelligence. It had its best quarter ever, Apple said, with $8.5 billion in revenues, up 34% from the year-ago quarter.

Analysts are expecting Apple to ship 80 million iPhones during the current quarter, which includes the crucial holiday shopping season, according to FactSet.

A larger queue formed around Apple's Sydney store for the iPhone X than the iPhone 8, released last month.

Apple fiscal 4th quarter sales results are in with a return to growth in the smartphone, tablet, and notebook markets.

It's the first time that Apple has staggered the release of new handsets that were unveiled at the same time.

Nearly two-thirds of Apple's sales, 62 percent, came from global sales.

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