Research Firm Claims that Apple's Fiscal Q4 should be strong based on great iPhone SE sales and one of the best September Quarters in Years
Earlier today Consumer Intelligence Research Partners, LLC (CIRP) released analysis of the results from its research on Apple, Inc. for their fiscal quarter 4 that ended September 26, 2020.
CIRP finds that the new iPhone SE model accounted for 22% of US iPhone sales during the quarter ending September 2020. The year-old iPhone 11, 11 Pro, and 11 Pro Max accounted for 64% of US iPhone sales during the quarter (Chart 1).
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Josh Lowitz, CIRP Partner and Co-Founder: "In its first full quarter of sales, the $399 iPhone SE accounted for almost one-quarter of iPhone sales. During a challenging quarter, with COVID-19 altering the retail landscape and delaying launch of new 2020 flagship models, the new SE model succeeded in attracting customers with old phones in need of an upgrade. Last fall’s iPhone 11 family of phones continued to sell well, with iPhone 11 remaining the biggest single model, and one-third of customers opting for the premium-priced iPhone Pro and Pro Max."
Apple stores, both retail locations and online, increased their share of total iPhone sales in the quarter to 21%, compared to 13% in the year-ago quarter (Table 1).
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Mike Levin, CIRP Partner and Co-Founder: "Apple’s retail operation increased its share of total iPhone sales in the quarter compared to last year. At 21% of total sales, it was among the best quarters we’ve seen in the past few years, and definitely the best September quarter, when iPhone customers are typically waiting to buy new models.
And, Apple increased its share primarily through online sales, which for the first time exceeded retail store sales. COVID-19 disrupted consumer buying behavior, and Apple shut its physical retail shops for a period of months. Apple took share from both mobile phone carriers and Best Buy. Both maintained online sales at one-quarter to one-third of total sales."
Apple announced earlier today that their financial conference call will take place on October 29, 2020 2:00 p.m. PT / 5:00 p.m. ET.