Wall Street Assesses Apple Q3 Figures

Apple cash

Apple has reported strong third-fiscal-quarter sales of 35.2 million iPhones – accounting for 53% of the company’s revenue – but it also failed to meet some of the Wall Street’s expectations. Fortune has gathered some of the analysts’ takeaways from yesterday’s report.

Gene Munster of Piper Jaffray pointed to Apple’s lower-than-expected September quarter guidance, claiming this means that Apple will launch the iPhone 6 closer to the end of September instead of the middle as previously expected.

We previously reported Morgan Stanley analyst Katy Huberty’s AlphaWise forecast, and the June quarter has met her expectations. However, instead of analyzing Q3, in her note to investors she focuses on the current quarter ending September 30. She expects “higher margin iPhone, iWatch, and App Store to grow faster than the rest of the business in C2H14 and CY15, providing incremental margin tailwind.”

Brian Marshall of ISI believes the power of Apple’s ecosystem assets will be unlocked this fall when the company launches the bigger-screen iPhone 6.

Brian White of Cantor Fitzgerald, the analyst with the “legendary” iRing, says yesterday’s report is of less significance than past quarterly reports, since investors are focused on the iPhone 6 and iWatch launch for this fall.