When Apple reports its fourth-quarter earnings tomorrow, the numbers on the two new iPhone - the 5S and 5C - will be the focus on Wall Street. The new iPhones were released for sale last month, and only eight days of initial sales will be included as part of this quarter. In any case, with a record 9 million phones sold in the opening weekend, Wall Street expects Apple to post its highest fourth-quarter revenue as a result.
Apple is expected to post earnings of $7.92 per share on sales of $36.82 billion for its quarter, which ended September 28, 2013. Wall Street will also compare the sales of iPhone 5C versus the higher end iPhone 5S. The iPhone 5C replaced the iPhone 5 and has nearly the same hardware, but costs less than the 5S. According to a report from Localytis last month, the 5S outsold the 5C more than 3 to 1 in its initial days on sale. However, Localytis reported this week that the ratio has changed, and now 5C trails the 5S by a ratio of 2.3 to 1.
Wall Street expects Apple to report 33.4 million iPhones sold according to estimates compiled by Fortune, making it 24 percent more than the 26.9 million units sold by Apple in the same quarter last year.
Wall Street is expecting a great quarter for the one Apple is currently in, thanks to the busy holiday shopping season, and historically the best quarter for Apple. Analysts expect Apple to report earnings of $13.86 per share on $55.65 billion in sales, topping last year's $54.5 billion in sales and earnings of $13.81 a share.
Apple is expected to report its earnings tomorrow, October 28, 2013, around 1:30 p.m. PT, and has a conference call with analysts scheduled for 2 p.m. PT.