Cook 'optimistic' about iPhone 12 after 'tremendously positive' reviews

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During Apple's fourth quarter earnings call, CEO Tim Cook remarked that the iPhone 12 was doing well, and the company is "very optimistic" about the next few weeks.

Apple released the iPhone 12 and iPhone 12 Pro after its fiscal fourth quarter, so it could not benefit from the usual weeks of launch sales to buoy fourth quarter earnings. The remainder of the lineup will launch in November.

"The early product reviews have been tremendously positive and our customers have been similarly excited to get their hands on this next era of devices. We're very optimistic about what the next few weeks we'll bring," Cook said.

This aligns with supply chain analyst Ming-Chi Kuo, who reported that the iPhone 12 pre-orders outpaced the iPhone 11. Analysts expect the holiday quarter will see blockbuster numbers for the iPhone 12 lineup.

CFO Luca Maestri commented more on the iPhone 12 launch, noting that customer demand grew double digits through mid-September, and the active device install base has reached an all-time high. The all-time high applies to total users and in each major product category. Overall, iPhone demand was "above expectations" despite the lasting effects of COVID.

The iPhone 12 mini and iPhone 12 Pro Max will be available for pre-order on Nov. 6 and ship on Nov. 13. This will likely create another strong cycle of demand leading into 2021.