Tim Cook: iPhone 8 rumors cause temporary dip, but that ‘bodes well for the future’

In addition to Tim Cook’s comments and answers to the press’ questions on Apple’s earnings call today, Cook has spoken with The Wall Street Journal, sharing some more thoughts on the company’s successful fiscal Q3 and predictions for the iPhone 8.

While iPhone sales were flat for the quarter – as expected ahead of the iPhone 8 – iPad and Mac sales both saw growth. The new $329 iPad and iPad Pro lineup along with refreshed Macs that brought Thunderbolt 3 to the iMac and a minor MacBook Pro update helped Apple achieve a stronger than usual Q3.

“We’ve got some momentum,” Chief Executive Tim Cook said. “A lot of things we’ve been working on a long time are beginning to show in the results.”

When asked about iPhone 7 and 7 Plus sales, Cook admitted to a dip, but remained optimistic that the lull would translate into more iPhone 8 demand:

“We believe there is a pause, but that probably bodes well for the future,” he said.

Apple’s guidance for Q4 is for revenue between $49 and $52 billion compared to $46.9 billion from the same quarter a year ago. While this represents some growth due to the upcoming iPhone anniversary, it suggests that if a super cycle does occur with the iPhone 8, it will happen in Apple’s 2018 Q1 or later.

As for Apple’s upcoming iOS 11 update, Tim Cook told CNBC today that ARKit is going to make the iPhone even more invaluable to consumers.

“The smart phone is becoming even more important to people because it’s going across so much of your life and you can tell by some of the things we did at WWDC that that will only continue,” Cook told CNBC’s Josh Lipton. “And with things like AR… I think it becomes even more essential than it currently is. I know it’s hard to believe, but I think that’s the case.”