Apple CEO Claims Record Watch Sales In First Holiday Week
Zacks Investment Research | Dec 05, 2016 09:42PM ET
The holiday season seems to have begun on a positive note for Apple Inc (NASDAQ:AAPL) . As per Apple’s Chief Executive Tim Cook’s response to a Reuters mail, Apple Watch has hit record sales in the first week of holiday shopping based on the number of units sold to the consumers. Cook’s claims however do not take into account retailers’ stock. Also, specific sales figures were not disclosed.
The holiday quarter has always been the strongest for Apple in the past. The company slashed the prices of the Apple Watch 2, which probably contributed to the increased sales. In any case, watches are seen as a more universal gifting option than iPhones and Mac Books, which helped its sale figures to rise in the festive season as noted by TECHnalysis Research analysts.
Cook’s comments came a few days after IDC reported that 1.1 million units of the Apple Watch were sold during the third quarter of 2016, down 71% from the year-ago quarter.
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