Apple (AAPL) PT Set at $175.00 by Morningstar

Apple Reports Second Quarter Results

According to research by Strategy Analysts, iPhone X is the world's bestselling smartphone in Q1 2018.

In addition to claiming the top spot, Apple took over second, third, and fourth place too, shipping 12.5 million iPhone 8 units, 8.3 million iPhone 8 Plus units, and 5.6 million iPhone 7 units.

Samsung has shipped 5.3 million units of Galaxy S9 Plus for sixth place and 2 percent share.

The iPhone X was believed to impact Apple's sales revenue owing to its sheer United States dollars 1,000 price tag.

It was written off as a flop by analysts until just a week ago, but according to newly released figures from Strategy Analytics, Apple's iPhone X was actually the world's best selling smartphone model in the first quarter of 2018. This year the scuttlebutt from industry sources was that the iPhone X was a flop, and that Apple's status in the Chinese phone market was shaky. The phone is powered by the A11 Bionic chip, which is also on the iPhone 8 series. "Given our confidence in Apple's future, we are very happy to announce that our Board has approved a new $100 billion share repurchase authorization and a 16 percent increase in our quarterly dividend".

In speaking with financial analysts on Tuesday, Cook said this regarding the technologies Apple built into the iPhone X: "Obviously, if those technologies move to a lower price point, that may lead to increased unit demand". And the truth is that it does not surprise us, given that the new flagship of Apple has given much to talk about, without still getting to send the first units.

After all the brouhaha over tepid Apple iPhone X forecasts, it turns out that the iPhone X indeed was the most shipped smartphone in Q1 2018. "Combined together, Apple today accounts for four of the world's six most popular smartphone models", Juha added. Another analyst, Neil Campling at Mirabaud Securities, said the supplier TMSC's revised full-year revenue target citing "smartphone weakness" indicates that the iPhone X will die soon. In addition, the notch, first seen in the iPhone X, would give the phone FaceID capabilities.

Xiaomi surprise The only Android device in the top-five list is Xiaomi's Redmi 5A, a budget smartphone that sells in India for Rs 5,999. Here in Q1 2018, no one smartphone has that great a command over the market. The company had 25% of the market share whereas Samsung had 23%. Those were the iPhone 7 and the iPhone 7 Plus, and the latter of these racked up 17.4-million units shipped. It gained 2 percent market share worldwide in the quarter, and the firm noted that Xiaomi has become "wildly popular" across India and China.

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