Apple’s Increased Off-Balance Sheet Hints at Major ‘iPhone 6s’ Launch: Analyst

Analysts such as Morgan Stanley’s Katy Huberty have analysed Apple’s 10-Q filing from this week, digging for any hints at Apple Watch sales, only to find information about the next-generation iPhone launch: As of the end of June, Apple had $26.5 billion in liabilities, a noteworthy increase compared to last year, which suggests a massive iPhone 6s launch, says Huberty (via AppleInsider).


The $26.5 billion represents a 26% increase year-over-year and 15% sequential growth, which means Apple is preparing for growth in iPhone sales year-over-year, which could calm some Wall Street rumours suggesting that iPhone 6s sales could slow down as the device is almost identical to the iPhone 6.

Another noteworthy element highlighted by Huberty is that $22 billion of the commitments were specifically related to outsourcing and components, up 41% year-over-year and 14% from the previous quarter.

In the light of the above numbers, Huberty foresees revenue of $63 billion, although she cautions that it is too high for that specific quarter. According to Apple’s September quarter guidance, revenue will be somewhere between $49 billion and $51 billion.