Abhinav Davuluri: Apple reported solid September quarter results thanks to 10 days worth of iPhone XS and XS Max sales as well as continued strength across these services and wearables businesses. However, expectations for the guidance of the December quarter fell short of our view of about $93.5 billion versus management's range of $89 to $93 billion.
Two reasons driving this, one being FX had wins of about $2 billion, as well as the fact that the iPhone X launched last year, was part of the December quarter, versus this year the XS and XS Max were part of the September quarter of this year, thus distorting the year over year iPhone compare.
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Abhinav Davuluri does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.