By Michael Liedtke Published 4:07 pm PDT, Tuesday, April 30, 2019 Sales of iPhones at stores like this one in New York’s Grand Central Terminal continued to be slow in the first quarter, reflected in profit and revenue. Sales of iPhones at stores like this one in New York’s Grand Central Terminal continued to be slow in the first quarter, reflected in profit and revenue. Photo: Drew Angerer / Getty Images Photo: Drew Angerer / Getty Images Image 1 of / 4 Caption Close Image 1 of 4 Sales of iPhones at stores like this one in New York’s Grand Central Terminal continued to be slow in the first quarter, reflected in profit and revenue. Sales of iPhones at stores like this one in New York’s Grand Central Terminal continued to be slow in the first quarter, … [Read more...] about Apple revenue, profit sag amid iPhone slump
Jan 03, 9:11 PM EST Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Micah Ong 01/03/19 AT 9:10 PM U.S. stocks took a massive tumble on Thursday amid Apple's warning of a global economic slowdown due to the ongoing trade war.According to CNBC, Fueling the fears of an economic crisis is a weaker-than-expected reading on U.S. factory activity.Apple (AAPL) reported a massive shortfall in its holiday quarter revenue, the magnitude of which has sent shockwaves through the technology industry. This resulted to a more than 2 percent loss in all three major U.S. stock indexes, with the Nasdaq Composite reporting 3 percent.The Dow Jones Industrial Average fell 660.02 points or 2.8 percent to 22,686.22 after Apple shares dropped 10 percent on Thursday. The 30-stock index fell to its low of the day right before the close, tumbling as much as 707.83 points. Thursday also marked the lowest Apple's shares have been since 2013.As the tech … [Read more...] about Dow Plunges Over 600 Points After Apple Revenue Shortfall, Global Economic Slowdown Warning
Customers look at new Apple iPhones including the iPhone XS, left, iPhone XS Max on display at an Apple store in New York on Friday, Sept. 21, 2018. (AP Photo/Patrick Sison) SAN FRANCISCO — Apple warns that disappointing iPhone sales will cause a significant drop in its revenue over the crucial holiday season compared to earlier projections. CEO Tim Cook made the announcement after the market closed Wednesday. It embodies some of the worst fears of investors, who have been dumping Apple shares amid signs that the latest iPhone models weren’t living up to expectations. Cook cited China as Apple’s biggest weak spot, but also said that consumers weren’t upgrading to the latest iPhones models as eagerly as anticipated. As a result, Apple now expects revenue of $84 billion for the fiscal quarter running from October through December. Management had previously predicted revenue ranging from $89 billion to $93 billion. … [Read more...] about Weak iPhone sales will cause drop in Apple revenue
Apple will no longer report iPhone sales numbers. The move can only be interpreted negatively. “Some people may fear that this now means that the iPhone units are going to start going negative year over year because it’s easier to talk about great things and not show the details of things that aren’t so great,” said CITI analyst Jim Suva. Global data show smartphone sales are going into decline, and CEO Tim Cook has previously admitted he is comfortable with that. Apple announced last night it would no longer be reporting iPhone sales numbers – or sales numbers for any of its products – on future earnings calls. Investors hated it: AAPL stock tanked 7% on the news and was still down 5% in premarket trading before the New York exchanges opened. The disclosure can only be interpreted negatively. CITI analyst Jim Suva summed it up on the call last night perfectly. He told CEO Tim Cook and CFO Luca Maestri: “Some people may fear that … [Read more...] about Apple will no longer report iPhone numbers after sales went to 0%, and analysts are worried the era of iPhone growth is over
By Rex Crum | [email protected] | Bay Area News Group November 1, 2018 at 2:36 pm With its sales of services reaching an all-time high, Apple on Thursday reported quarterly results that surpassed Wall Street’s expectations. Apple said that for its fiscal fourth quarter, which ended Sept. 29, it earned $2.91 a share, on $62.9 billion in revenue. Those numbers topped analysts’ consensus estimates for a profit of $2.78 a share, on sales of $61.57 billion. Apple reported that services revenue climbed to $9.98 billion, a record for a single quarter. IPhone sales reached $37.19 billion, up from $28.85 billion, in the year-ago quarter. Apple shares fell 4 percent, to $213.55, in after-hours trading following the release of the company’s earnings and sales results. Report an error Policies and Standards Contact Us … [Read more...] about Apple’s revenue up, sales outlook down: Are high-priced iPhones a factor?