Amid apprehensions concerning the iPhone 15’s market performance in China, the US displays a contrasting trend. AT&T’s recent Q3 earnings call shed light on this, with CEO John Stankey highlighting the carrier’s impressive iPhone 15 pre-orders, the most robust in recent memory. This boost played a pivotal role in propelling AT&T’s stock to its most promising week in over 12 months. A significant contributor to this upswing was the iPhone 15’s September debut.
Addressing investors, Stankey underscored the strong iPhone 15 pre-order volumes AT&T registered, a phenomenon unseen for years. Remarkably, this success was achieved even when competing carriers dangled enticing promotions for potential upgraders. Stankey attributed this to AT&T’s straightforward approach to its clientele. The consistency in its offerings, combined with a dependable network quality, resonates deeply with its customer base.
Stankey further highlighted a trend: a majority of people taking iPhone promotions through AT&T opt for the carrier’s premium plans, even though it isn’t a promotional requirement for them to do so. The highest-value AT&T plan is rapidly gaining popularity among users, which shows the power of the company’s established brand value.
In the broader context, Apple is poised to unveil its fiscal Q4 2023 earnings come November 2. Spanning July to September, this report will provide an initial glimpse into the iPhone 15’s market debut. While specific unit sales remain undisclosed by Apple, revenue segmentation by product will be shared. To set a precedent, Apple’s Q4 2022 data showcased a record-breaking revenue of $90.1 billion.
However, the iPhone’s revenue, standing at $42.63 billion, fell slightly short of analysts’ projections, yet reflected a 9.8% growth compared to the previous year.