Apple now expects revenue for its fourth fiscal quarter ended Sept. 28 to be near the high end of its previous guidance of $34 billion to $37 billion, the company said in a filing Monday with the Securities and Exchange Commission.
Many Wall Street analysts had predicted iPhone sales would be around 6 million over the three-day weekend period. The stronger-than-expected showing for the debut of the iPhone 5s and 5c comes after Apple lost some $34 billion in market cap value from Sept. 10 to 11 following the announcement of the new iPhones, as investors were expecting cheaper phones for emerging markets like China and possibly a new product line like a TV.
Before the new iPhones went on sale at 8 a.m. Friday local time worldwide, long lines queued up at Apple Stores with particularly strong demand for the gold and “space grey” versions of the iPhone 5s. The 5s also features a new fingerprint reader that can unlock the phone.
“The demand for the new iPhones has been incredible, and while we’ve sold out of our initial supply of iPhone 5s, stores continue to receive new iPhone shipments regularly,” Apple CEO Tim Cook said in a statement. “We appreciate everyone’s patience and are working hard to build enough new iPhones for everyone.”
The iPhone 5s comes in gold, silver and what Apple calls “space gray,” for list prices of $199 for the 16-gigabyte model, $299 for 32 GB and $399 for 64 GB, with a two-year wireless contract. The iPhone 5c comes in blue, green, pink, yellow and white, priced at $99 for the 16 GB model and $199 for 32 GB, also with a two-year plan.