After the iPhone 8's muted rollout in late September, the lines of people willing to wait overnight suggest massive demand for the iPhone X - despite its U.S. $1,000-plus price tag. However, the situation is expected to be even worse with the iPhone X due to the number of pre-orders taken by Apple and Aussie telcos as well as a smaller shipment of units.
The iPhone X officially goes on sale tomorrow, and die-hard fans are already lining up at Apple Stores around the country.
GBH Insights analyst Daniel Ives said strong worldwide demand for the new smartphone, along with "complex production issues", meant the iPhone X would remain in short supply until April or May next year.
The Cupertino, California-based company said it had net income of $2.07 per share.
Apple reported 34% increase gains in revenue for its services category, which rose to $8.5 billion for Q4.
We're not going to lie to you: your chances of scoring an iPhone X tomorrow are not good - especially if your heart is set on a certain colour or capacity.
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Though the iPhone franchise is somewhat in limbo, there are other factors afoot for Apple.
Mr Cook has described the iPhone X as the future of the smartphone, packed with technology including facial recognition, cordless charging and an edge-to-edge screen made of organic light-emitting diodes used in high-end televisions.
A larger queue formed around Apple's Sydney store for the iPhone X than the iPhone 8, released last month.
"Price appears to be a major constraint on iPhone X demand, particularly in China", Bernstein analyst Toni Sacconaghi said in a recent report that showed three-quarters of Chinese respondents were excited by the upcoming launch, but only a quarter said they planned to buy one.
IPhones usually account for about two-thirds of Apple revenue and the devices are a hub for a growing suite of other products and services from the company. Most analysts are predicting Apple won't be able to catch up with demand until early next year. When the dust settled, Apple posted revenue of $52.6 billion.
Apple forecast fiscal first-quarter revenue of $84 billion to $87 billion. They are expecting the company to sell 242 million iPhones in the fiscal year ending in September 2018 - the most in the product's history.