Apple Shakes The Market With Much Less Than Expected Revenue Projections
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Apple is acknowledging that the current situation at the company is not all that rosy. Apple still remains a powerful force in the technology playing field. Tim Cook admitted that the demand for iPhones is waning, confirming investor fears that the company’s most profitable product has lost some of its luster. This acknowledgment came in a letter from Apple CEO Tim Cook to the company’s shareholders released after the stock market closed Wednesday and from the graph above shows. The Share price dropped to $146.50, when we last checked.
Analysts expected Apple’s revenue to be about 9 percent higher at $91.3 billion. The revelation by Apple says it now expects revenue of $84 billion for the period. The official results are scheduled to be released Jan. 29.
Cook also said Apple’s revenue for the October-December quarter which includes the crucial holiday shopping season too will fall well below the company’s earlier projections and those of analysts, whose estimates sway the stock market. China remains a larger focus of the financial woes Apple is facing.
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| AAPL (Apple) 1/2/2019 |
Apple is acknowledging that the current situation at the company is not all that rosy. Apple still remains a powerful force in the technology playing field. Tim Cook admitted that the demand for iPhones is waning, confirming investor fears that the company’s most profitable product has lost some of its luster. This acknowledgment came in a letter from Apple CEO Tim Cook to the company’s shareholders released after the stock market closed Wednesday and from the graph above shows. The Share price dropped to $146.50, when we last checked.
Analysts expected Apple’s revenue to be about 9 percent higher at $91.3 billion. The revelation by Apple says it now expects revenue of $84 billion for the period. The official results are scheduled to be released Jan. 29.
Cook also said Apple’s revenue for the October-December quarter which includes the crucial holiday shopping season too will fall well below the company’s earlier projections and those of analysts, whose estimates sway the stock market. China remains a larger focus of the financial woes Apple is facing.
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