iPhone Delay: When to Expect Apple's iPhone 12

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Apple’s  (APPL)  brand new iPhones normally hit stores each year in September, but the company has said that won’t be the case in 2020. According to Apple, the iPhone 12 will be delayed by a “few weeks."

"A year ago, we launched the new iPhone in late September...this year the supply of the new product will be a few weeks later than that," said Apple CFO Luca Maestri.

However, it isn't entirely clear from Maestri's remarks whether the delay will affect the timing of Apple's iPhone 12 reveal, or just the date that the phones go on sale. 

While Apple didn’t give a reason for the delay, experts believe it’s due to production delays caused by the pandemic. In April, The Wall Street Journal reported that production of new Apple iPhones had been pushed back by about a month.

Apple posted blowout earnings on Thursday. Even in the face of the pandemic, earnings rose 25.9% from the same period last year to $2.58 per share, well ahead of the $2.05 per share Street consensus forecast. iPhone revenues rose 2% from last year.

"We're very pleased with how we did on iPhone. It was better than we thought largely because May and June were much better. If you look at iPhone in totality the things that gets me very optimistic is the size of the active installed base," said Apple CEO Tim Cook.

On Friday, shares surged to an all-time high, trading past the $400 mark for the first time ever.

The Apple Maven has a deep dive into Apple's earnings report. "I call this a historic quarter for Apple, because the company was able to deliver very solid results in the middle of a global pandemic," said The Apple Maven Daniel Martins.

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