Sunday, 19 August, 2018

IPhone Sales Fall, CEO Explains Why That Might Be

Frank Williams | 11 May, 2017, 04:07

Apple reported the second-best second quarter in its history but investors expressed some disappointment, sending its share price down as much as 2.4% in after-hours trading Tuesday.

"We generated strong operating cash flow of $12.5 billion and returned over $10 billion to our investors in the March quarter", said Luca Maestri, Apple's CFO.

In the first three months of 2017, Apple sold 50.8 million iPhones which is 1 per cent down compared to past year in the same quarter. Analysts on average had estimated iPhone sales of 52.27m, according to financial data and analytics firm FactSet.

The company also highlighted surge in sales of Apple Watch, as well as its AirPods and Beats earphones.

Despite this, Apple recorded more revenue for Q2 2017 - with $33 billion earned compared to $32.8 billion the previous year.

That puts the focus on the next iPhone launch, which is anticipated in mid to late September.

In a research note to clients, the analyst viewed, "We would look past disappointing iPhone sales, as consumers delay purchases ahead of an iPhone X launch (features to include OLED displays, wireless charging, and 3D sensing)".

Release, Price, Specs REVEALED for official Lucidsound headset — Microsoft Xbox Scorpio
Several of these games have been hiding in the rafters, waiting to drip-feed more concrete details before they're shown off. Meanwhile, according to GameSpot , there will be a new feature coming out soon for Xbox One which is the Game Pass.

The continued decline in iPhone sales could be partly attributed to market saturation, with iPhone owners not willing to upgrade their devices as soon as new models are rolled out.

The company expects its third quarter revenue to stand around $43.5B-$45.5B, compared to the consensus for $45.59B.

Earnings per share of $2.10 topped analyst estimates of $2.02.

Revenue rose 4.6 percent to $52.9 billion in the quarter.

Revenue from the App Store, Apple Pay and the like clocked in at US$7.04bn, which was up from US$6bn the year before but a tad below the US$7.06bn Wall Street had pencilled in.

Apple's iPad sales continue to plummet, and iPhone sales are going flat, but the Cupertino idiot tax operation was still able to haul in a hefty $11bn profit in the past quarter. Also, while quoting the future, Cook said that the company has a really great pipeline when it comes to the smartwatch segment but refused to elaborate any further. In fact, in February, Karnataka information technology minister Priyank Kharge had said the company was ready to start assembling high-end iPhones in less than a month.

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