Apple's fiscal fourth quarter results could be "substantially" lower than expectations due to its decision to delay the availability of the iPhone X, one analyst told CNBC on Wednesday.
The technology giant released three new smartphones on Tuesday: The iPhone 8, iPhone 8 Plus and iPhone X. The latter is a $999 model packed full of new features. But it will begin shipping on November 3, later than the other two devices.
Daniel Gleeson, senior analyst at Ovum, said that those who would want to buy the iPhone X are likely going to be the enthusiasts who will want the latest device as soon as possible. Those who will likely buy the iPhone 8 and 8 Plus won't necessarily be too worried about getting it quickly.
This could lead to many people waiting to see the iPhone X before purchasing an iPhone 8 or 8 Plus. Gleeson said that this could have an effect on Apple's September quarter results.
"The iPhone X will potentially hamper and damage the sales of the iPhone 8 … that's a very big risk because the iPhone launch events in late September have always been a very very big sales event for Apple. They've always helped perk up their late Q3 numbers and led into very strong Q4s," Gleeson told CNBC in a TV interview on Wednesday.
"So what you'll see now possibly is a Q3 that is actually down substantially on what it should have been or what it might have been expected to be, of course, with the reverse of possibly a higher Q4 on the other side."