Feb 02, 6:25 PM EST Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Natalie Walters 02/02/19 AT 6:05 PM Just a few years ago, Apple's (NASDAQ:AAPL) iPhone launch events were so popular that people were sleeping outside the stores to ensure they got their hands on one of the new models the day they came out. If you didn't, you might have to wait a month until they were restocked. But the era of camping outside Apple stores may be over. This year, Apple's three new iPhone models launched without much fanfare and to lackluster demand. For the past quarter, iPhone revenue fell 15% year over year. While the iPhone business used to be central to Apple's revenue growth, this year it weighed on the company. Apple said its total quarterly revenue declined 5% year over year to $84.3 billion. Reminiscing On The Golden Years Of The iPhone LaunchesApple's iPhone became a lucrative overnight phenomenon the day … [Read more...] about Apple iPhone News: Are We Past The Golden Era Of iPhone Launches?
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By David Hodari The Wall Street Journal Jessica Menton Thu., Jan. 3, 2019 The Dow Jones Industrial Average slumped Thursday, as weak economic data and a rare sales warning from Apple sparked new worries about a global slowdown. The blue-chip index dropped 600 points, or 2.5%, to 22746. The S&P 500 fell 2.2% and the technology-heavy Nasdaq Composite shed 2.7%. At their lows on the day, the Dow and S&P 500 were both down more than 2% in 2019, their worst start to a year since 2000. Nine of the 11 sectors in the S&P 500 fell. The technology sector shed 4.7%, with Apple shares dropping 10%. Other popular tech stocks such as Amazon, Facebook and Google parent Alphabet fell more than 2%. Meanwhile, dividend-paying “safety” stocks, which investors typically buy when they are nervous, rose with the real-estate group adding 1%. Utilities also rose. A confluence of factors from slowing global-growth concerns to the Federal Reserve’s … [Read more...] about U.S. stocks slide after weak economic data, Apple sales warning
By Rex Crum | [email protected] | PUBLISHED: January 3, 2019 at 8:50 am | UPDATED: January 3, 2019 at 8:50 am There was little love for Apple on Thursday as the company woke up to face the aftermath of what one analyst called the “darkest day” of the iPhone era. company’s stunning announcement Wednesday that it foresees its fiscal first-quarter revenue falling far short of its previous expectations. Apple said it expects sales for the quarter that ended Dec. 29 to come in at $84 billion, down from an earlier estimate of $89 billion to $93 billion, and blamed the shortfall on weaker-than-expected demand for new iPhones and a slowdown in its business in China. “In the modern iPhone era, last night was clearly Apple’s darkest day,” said Dan Ives, director of equity research at Wedbush Securites. “(It) represents a challenging growth period ahead for the company.” In a letter to Apple shareholders, CEO Tim Cook wasted little time … [Read more...] about Aftermath of Apple’s ‘darkest day’: Shares crushed after sales outlook is cut
Sections SEARCH Skip to content Skip to site index Business Subscribe Log In Log In Today’s Paper Business | Apple’s Glum China News Sends Global Stocks Lower Supported by ByCarlos Tejada Jan. 3, 2019 HONG KONG — Apple has given global investors another reason to worry, and they reacted on Thursday with a cautious retreat. Markets across Asia fell slightly but broadly on Thursday, as investors shed technology stocks in particular following the iPhone maker’s announcement to shareholders on Wednesday that its smartphone sales in China had been disappointing. European markets opened lower as well. Investors who try to predict Wall Street’s moves through futures contracts signaled Wall Street would also open lower on Thursday morning. Apple said on Wednesday that it was lowering revenue expectations because of weak sales in Greater China — an area that includes mainland China, Hong … [Read more...] about Apple’s Glum China News Sends Global Stocks Lower
Vietnamese ride-hailing FastGo launched in Myanmar FastGo Viet Nam on Friday officially launched its service in Myanmar, becoming the first Vietnamese firm in the ride-hailing sector to expand its operations to foreign markets. FastGo plans to introduce its services in big cities in Myanmar in 2019, with 2 million users and 100,000 drivers. In addition, it would continue to invest and call for investment to develop new services in the market. It would maintain its competitive advantage of no commission for driver partners and not increasing fares during peak hours or adverse weather conditions. Speaking at the launch ceremony, Nguyen Huu Tuat, FastGo’s general director said with the foundation of global technology and service operation know-how, FastGo would continue to invest to develop new services in Myanmar. “We expect to become a part of Myanmar and a trusted partner,” he added. He said the company chose to launch in Myanmar first as they have a partner – … [Read more...] about BUSINESS NEWS IN BRIEF 30/12