Apple fanatics might have to wait longer for the iPhone X

Huge crowds gather outside Apple store in Orchard Road ahead of iPhone X launch

Telstra consumer group managing director Vicki Brady said demand for this year's Apple smartphones together was "above previous iPhone launches" and the telco was working to secure new stock.

During its most recent quarter, Apple sold 10.3 million iPads and 5.3 million Macs, representing a year-over-year increase of 14% and 25%, respectively.

The $28.85 billion revenue from iPhone sales accounted for almost 55 percent of total revenue, which rose 12.2 percent to $52.58 billion.

Apple said it sold 46.7 million iPhones in the fourth quarter ended September 30, above analysts' estimates of 46.4 million, according to financial data and analytics firm FactSet.

Often reliable KGI analyst Ming-Chi Kuo said in a memo to investors that it is highly unlikely that Apple will integrate a 7P (seven-lens plastic array) or 2G3P (two glass, three plastic) design in the iPhone X successor's camera.

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Apple reports quarterly earnings after the bell, when Wall Street will scour the company's finances for signs that consumers are shelling out for new iPhones. The tech giant brought in a whopping $52.6 billion, exceeding the $50.7 billion that was expected in Q4.

The company also showed off other new products in the back half of this year, amid back-to-school shopping season: the Apple Watch Series 3 with a cellular connection, its thinnest and lightest MacBook yet, and the Apple TV 4K. This quarter's earnings will give a glimpse into the first week of sales for the iPhone 8, one of Apple's newest devices. But it forecast profit next quarter, which is traditionally its largest for sales due to the holidays, for somewhere between $84 billion and $87 billion.

The iPhone X officially goes on sale tomorrow, and die-hard fans are already lining up at Apple Stores around the country.

Perhaps unsurprisingly, Apple itself struck an optimistic tone.

It's not hard to see why the iPhone X is in such high demand; it reinvents the company's vision for a smartphone, replacing traditional bezels with an edge-to-edge OLED screen and the antiquated home button with gestures. For one, Apple is likely the top beneficiary of USA technology companies when it comes to a new Republican tax proposal on overseas cash. Soon after people started pre-ordering the iPhone X on October 27, shipping times lengthened to as many as six weeks. The company is also set to sell the HomePod, a Siri-powered speaker to answer both Amazon's Echo line and Google's Home speakers.

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