Apple's average selling price on iPhones jumped to $796 in the fourth quarter, more than $100 higher than the year-ago quarter. A year ago the average selling price, or ASP, was $695.
Analysts surveyed by FactSet were expecting average iPhone prices to hit $737 in the quarter ending in December, up from $655 in the September quarter. The big jump in prices reflected the release of the iPhone 8, iPhone 8 Plus, and iPhone X, all priced higher than predecessor models, thanks to upgrades like increased storage capacity and better cameras.
The iPhone X, the new flagship model, may have a $999 price tag, but the company also sells plenty of older models, which usually brings down its average phone price into the $600 to $700 price range.
iPhone sales rarely break above $700 a pop — the last time was in June of 2016, when the price hit $701, according to FactSet.
The stock whipsawed after the company reported earnings Thursday that beat but the company issued lower guidance.