Apple revises fourth quarter revenue expectations higher

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After releasing the record-breaking sales figures for the iPhone 5s and iPhone 5c opening weekend, the company has announced that it expects its Q4 revenue to be near the high end of its original estimate. According to Street Insider, Apple originally provided a range of $34 billion to $37 billion of total revenue and 36% to 37% gross margin for the fourth fiscal quarter and the company is now very confident that it will more than exceed its lowest guidance. Smartphone buyers showed an unprecedented amount of enthusiasm for the new iPhone models, with some customers lining up as early as two weeks in advance of the retail release. It seems that the limited supply has not stopped buyers from getting their hands on the 5s and 5c, nor has it stopped Apple from raising its expectations for the rest of the year.