"After FedEx cutoff"?

I work for FedEx. This means that the package wasdropped off or arrived at the fedex terminal or station after the cut time. for example, FedEx Express uses planes to move packages. They need to sort these packages and get them to the airport so they can go out at night, in order to do this efficiently daily, there is a cut time for when they stop sortation and send what they have to the airport for departure. for most Express stations (World Service Centers) the cut off time is 8pm, as long as you drop your package off at the counter by 8pm it will go out that night. most Fedex Office locations have a cut off at 6 pm, so the express driver can pick up at 6:15 from that location and take it back to the World Service center to be sorted and make it within their 8pm cut time.

So i would say Apple is palletizing these iPhones and either transporting them directly to Fedex or they have Fedex coming every few hours to pick up pallets. you pallet didnt arrive at the fedex station until after 8pm. it will go out the next day. apple has special arrangements with Fedex. for launch products they dont use 3 day, 2 day or overnight shipping. They tell fedex when to deliver (june 24th) and as long as they provide the phones to Fedex by the 23rd before 8pm they can get them all out! naturally in order to keep the fedex network from getting congested with iPhones and possible cause delays. Apple ships them out throughout the week and Fedex will either hold them in the memphis hub until June 23rd and then send them to the destination terminals or they will route them directly to the destination terminals with instructions to deliver on the 24th and no sooner.