Apple shares sink as Xmas sales forecast disappoints

By James Sillars, business reporter
Apple shares have plunged in after-hours trading after the iPhone maker's forecasts for revenues in the the crucial Christmas period missed expectations.
The company's boss Tim Cook said it expected a series of headwinds to weigh on growth in the coming months.
He said they included weakness in emerging markets, an expected $2bn cost from unfavourable foreign exchange rates and uncertainty over whether it could keep up with demand for new products.Its fourth quarter results, covering the three months to October, showed Apple sold fewer iPhones than analysts had expected - almost 47 million - but revenues and profits all smashed forecasts.Revenue was up 20% on a year ago at $62bn while profits rose 41%.Its iPhone sales in the final three months, which tends to be the weakest period, were largely driven by the previous year's models as the Xs range only went on sale at the end of September.
Apple shares sink as Xmas sales forecast disappoints

Apple's iPhone sales figures are largely based on the iPhone 8, iPhone 8S and iPhone X because the Xs range only went on sale a month ago
The new liquid retina display large screen XR was available from last week.Apple has been placing a greater emphasis this year on growing services revenue - non-device sales - rather than relying on iPhones to drive profits.:: Apple is 'best private firm to work for in the UK'That is largely because of strong competition in the smartphone sector, with owners of the most expensive devices more likely to hang on to them for longer.
See also:
Leave a comment
  • Latest
  • Read
  • Commented
Calendar Content
«    Март 2021    »