Apple sees surprise fall in iPhone sales

03 May, 2017, 21:38 | Author: Alicia Barber
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Apple is now forecasting revenue of between $43.5 and $45.5 billion for the current quarter.

Apple sold 50.8 million iPhones in the quarter that ended April 1, down from 51.2 million units in the same period a year earlier, and fewer than the 51.4 million predicted in a Bloomberg survey of analysts.

Elsewhere, biotech drug maker Gilead Sciences sank 2.8 percent after its results came up short of forecasts and online retailer Etsy plunged 8.9 percent after the company replaced its CEO.

Also falling in sales volumes were iPads. The iPhone 7, unveiled in September, had similar form and features to its predecessor, extending the cycle to three years. There were previous rumors that said the iPhone 8 will launch later than expected, but according to the latest ones, it will only arrive in 2018.

A man holds an iPhone 7 Plus. But there's little question that people continued to judge these books by their covers following their launch.


While that might be true, it's equally true that the "future products" (notice he used the plural) he's referring to may actually help Apple's iPhone out of a jam this year. Additionally, the rate at which Apple is retaining U.S. iPhone users is reportedly on the decline.

Well, it turns out that a fresh coat of paint wasn't enough for some customers. "We continued to strengthen our local presence across the entire ecosystem, and we're very optimistic about our future in this remarkable country with its very large, young, and tech-savvy population, fast-growing economy, and improving 4G network infrastructure", Cook said. "I have full confidence that it won't". Apple doesn't break out sales numbers for its wearable, but analysts expected to see more growth from that part of Apple's business as competitors leave the smartwatch market. The same can be said each and every year. He added that seven of the company's most popular stores are in China. Though he wouldn't go into more details, it is clear why Cook is so exasperated by iPhone 8 leaks. Yet competitors released new high-end smartphones recently, putting pressure on Apple to deliver a device that's advanced enough to entice existing users to upgrade and lure new customers. Apple Corporation has repeatedly registered a drop in sales of iPhones while the company's revenues have grown.

As Apple's stash of cash grows, so does the possibility that the world's most valuable company will use some of the money for a huge acquisition that would expand its empire beyond iPhones and other gadgets. It was a massive, massive quarter.

"Apple commented that its iPhone business continues to benefit from stronger sales of the margin-rich IP-plus", but "We think Apple could be over-earning with the IP- plus, however, as the upside likely stems from Samsung's past struggles".

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