Apple warns on holiday sales, sending value below $1 trillion

Embedded Image

The Cupertino, California, company rattled Wall Street even more by unexpectedly announcing that it will no longer disclose the number of iPhones it sells each quarter, beginning with the current period ending in December.

George Salmon, an analyst at Hargreaves Lansdown said that Apple was charging close to $800 per phone, and while that's helping revenues climb despite flat sales volumes it can not last.

Analysts had expected Apple to sell 78 million iPhones during the holiday season, but now the company isn't going to reveal whether it hit the target or not.

Apple's disappointing earnings report has put the iPhone maker's $1 trillion market value at risk. Apple will continue to report revenue for these categories. But with more than 2 billion iOS devices in the marketplace already, services like Apple Music and iCloud have a ready-built audience they can tap into.

Apple CEO Tim Cook voiced optimism that the Indian government will at some point agree to allow the technology giant to bring in its stores as he lauded the country's bold reforms, saying he is a "big believer" and "very bullish" on India.

Cook in an interview with Reuters said that Apple is "seeing some macroeconomic weakness in some of the emerging markets".

Most analysts were still upbeat on fourth-quarter results, and there was no obvious fallout for rest of the FAANG group of major USA tech stocks.

Arsenal's draw vs. Liverpool further proof of the Unai Emery effect
Mourinho has given him many, many minutes, but I believe he is at an age now where if he's not starting he'll be disappointed. After City, after Chelsea , maybe today we are more near in our performance to be in front of them.

UFC 230: Daniel Cormier Submits Derrick Lewis To Remain Champion
Much like attacking a bucket of chicken, Cormier tagged Lewis everywhere: leg, thigh, and then the neck for the decisive blow. The fight was largely one-sided for "DC", who scored multiple takedowns before locking in a fight-ending rear-naked choke.

NFL Cheerleader Kneels for National Anthem Before San Francisco 49ers Game
Kittle led all receivers with four catches for 108 yards, while Mostert was the game's top rusher with 86 yards on seven carries. Kyle Shanahan said he wasn't told whether Mostert was done for the year, but added, "I would assume so with a broken arm".

The changes are part of an effort to overhaul a product that has seen sliding sales in recent years. Revenue from Apple's services division, meanwhile, increased by a solid 17% compared to the September quarter of 2017.

Apple also unveiled a new version of its iPad Pro tablet with a screen that looks almost edge-to-edge and boasts a faster processor.

And, to make it look a strategic decision, Apple will also be hiding the sales figures of iPad and Mac.

The revenue was up 20 per cent from the year-ago quarter while worldwide sales accounted for 61 per cent of the quarter's revenue, the Cupertino-based company said in a statement.

Investors and analysts were not happy with the news, as they've long relied on these sales metrics to judge the company's performance.

A revenue forecast that fell short of the average analyst estimate at the midpoint and weaker-than-expected iPhone sales sent the stock tumbling in extended trading. Predictably, no one seemed to care that iPhone revenue jumped 29% year over year. Apple has raised the prices of its high-end iPhone models in recent years to offset slowing unit sales growth and sagging demand for smartphones.

Then again, Apple has never been the most transparent when it came to device sales anyway. Apple's fourth quarter this year included two months of sales of the new iPhone XS, which starts at $999, and the iPhone XS Max, and its $1,099 initial price. Apple decided to make a couple of big changes to the information it discloses every quarter.

Related news:

Hot News

isis-killer-beheading-video-story-top Seniors in long-term care urged to take high-dose flu vaccine
Nov 04, 2018 - 19:46
In fact, it was a real doozie with the Centers for Disease Control and Prevention calling the 2017 season one of "high severity". Officials say it takes about two weeks after the vaccination for antibodies that protect against the flu to develop in the body.

isis-killer-beheading-video-story-top Trump Slams Kavanaugh Accuser Who Admitted to Lying
Nov 04, 2018 - 19:43
The Committee's investigation has involved communicating with numerous individuals claiming to have relevant information. The Senate Judiciary leader mentioned the seriousness behind the false claims made against Kavanaugh .

isis-killer-beheading-video-story-top Live scorecard India vs West Indies first T20 worldwide
Nov 04, 2018 - 19:20
Last year July, they stunned the Indians by nine wickets in Jamaica and the previous year, won a one-run thriller in Florida. Hosts India have been dominating them since the start of the series in October.

isis-killer-beheading-video-story-top Crude Oil Analysis: Oil Waivers Raises Risk of Key Support Break
Nov 03, 2018 - 08:32
Exports of refined products rose by 6,000 barrels a day last week to remain at about 5.35 million barrels a day. The global benchmark crude traded at $9.33 premium to WTI for the same month.

isis-killer-beheading-video-story-top Sarri opens up on Loftus-Cheek's strengths and weaknesses
Nov 03, 2018 - 08:01
The Rams scored a couple of own goals and we needed a Cesc Fabregas victor in the first half to ensure passage into the next round.

isis-killer-beheading-video-story-top Sisters found tied together in NY river identified
Nov 03, 2018 - 07:45
A spokesperson for the institute called the news of her death "tragic", and said the university was cooperating with police. Water was found in the sisters' lungs , the official said, which means they were likely alive when they entered the river.

isis-killer-beheading-video-story-top Probe Parker approaches the Sun
Nov 02, 2018 - 01:48
Since its launch on August 12 from Florida's Kennedy Space Center, the probe has passed Venus and is heading closer to the Sun . It will also gather information on the magnetic and electric fields of the sun, and it will sample the corona's particle.

isis-killer-beheading-video-story-top New Electric eCOPO Chevrolet Camaro Runs A 9 Second Quarter Mile
Nov 02, 2018 - 01:46
For safety, the rear compartment batteries have been sealed off from the rest of the cabin, and there's a new driveshaft tunnel. Chevy is leveraging its conceptual COPO auto as a means of advancing the conversation around electrification in drag racing .

isis-killer-beheading-video-story-top United States troops should treat rocks as ‘rifles’
Nov 02, 2018 - 01:42
The official added that verbal orders went out this past weekend to some units and additional written orders are starting Monday. The administration has also been ramping up security at ports of entry this week.

isis-killer-beheading-video-story-top Thompson sets 3-pt record with 14, drops 52
Nov 02, 2018 - 01:41
Unexpectedly, Los Angeles built an early lead by posting an 8-0 run - highlighted by shots made from Russell and Young. Damian Lillard has already had a pair of 40-point nights, and Kemba Walker is one point shy of doing the same.

isis-killer-beheading-video-story-top Djokovic books place in Paris Masters quarterfinals
Nov 02, 2018 - 01:39
It helped him to maintain the remarkable spell of form that has seen him rise from number 22 in June to the top of the game again. The victory extended Djokovic's streak to 30 consecutive sets, surpassing his previous best effort of 29 achieved in 2015.

isis-killer-beheading-video-story-top U.S. plans more China tariffs if Trump-Xi meeting fails
Nov 02, 2018 - 01:29
Stocks climbed earlier this month after Bolsonaro led the previous round of voting, as investors preferred him to leftist parties. Bloomberg reported on Monday that the USA is preparing tariffs on all remaining Chinese imports if the talks fail.

isis-killer-beheading-video-story-top Nasa declares elite planet-hunting spacecraft dead
Nov 02, 2018 - 01:02
And who knows, Kepler may have already discovered a planet that is harboring life, we just need a more detailed view to spot it. Four years into the mission-after all primary objectives were met-mechanical failures temporarily halted Kepler's observations.

isis-killer-beheading-video-story-top Camera footage of Soyuz MS-10 launch failure released
Nov 02, 2018 - 00:43
Specifically, additional checks were introduced during preparation of the Soyuz 2.1B rocket, which was launched on October 25. Russian officials believe that the defective component was damaged during assembly.

isis-killer-beheading-video-story-top Get your first look at the 'Super Smash Bros. Ultimate' Adventure Mode
Nov 02, 2018 - 00:41
You can also combine cores to summon new Spirits, train them in the Gym, or send them off on quests to find treasure. With preferred rules, the format, rules, time limit, stage, and items can be set ahead of matches and saved.