Apple Inc. (NASDAQ:AAPL) breached all of its previous records and closed at $118.62 with 2% increase in its share prices. The primary reason for this boost in stock prices is the prediction for unusually higher iPhone 6 Sales. Analysts are expecting this holiday season to be the best for any of the iPhone devices released until now.
Apple Inc has always received overwhelming response from its customers during the last quarter with the iPhone maker selling 51 million iPhone devices in the last year quarter and helped the company reach record quarterly revenues of $57.6 billion. According to Susquehanna, Apple Inc. (NASDAQ:AAPL) was earlier planning to produce anywhere between 60 million to 65 million device but now, they are “producing as much of the iPhone 6 Plus as they can.”
According to Ming-Chi Kuo, KGI Securities, the iPhone maker is likely to sell up to 71.5 million iPhone devices during this quarter dwarfing YoY first quarter sales of the company. As per these expectations Apple Inc. (NASDAQ:AAPL) is likely to post revenue of $46.5 billion from its iPhone segment alone. The first quarter of fiscal 2014 generated net revenues of $57.6 billion with 51 million iPhone devices sale.
In addition to these extraordinary sale figures, the iPhone maker is working on a philanthropic approach by donating a share of its direct sales to the global fight against AIDS. Apple Inc. (NASDAQ:AAPL) will offer gift cards to its customers like the previous year’s Black Friday deals.
The company is likely to offer “RED” iTunes gift card to the customers qualifying a certain criteria set by the Palo-Alto company. In addition to it, any products sold from the “RED” product lineup will automatically contribute a portion of sale towards the cause. At the same time, some RED apps available on the App store would contribute 100% of the amount to AIDS fight.
This article has been written by Prakash Pandey.