Apple still isn't seeing much growth

Apple expects sales to increase slightly in the holiday quarter, marking a return to growth after three consecutive quarters of decline.

However, the gains are expected to be rather modest. The iPhone maker on Tuesday forecast sales for the current quarter of between $76 billion and $78 billion, up from $75.9 billion in December 2015.

The forecast, slightly ahead of analysts’ projections of $75 billion, comes as Apple released financial results for the July-to-September quarter that largely matched what Wall Street was anticipating. The company posted $9 billion in earnings, or $1.67 per share, on revenue of $46.9 billion.

The company had been expected to report roughly $47 billion in revenue and earnings of $1.65 per share.

Unit shipments of the iPhone, Apple’s most important product, came in at 45 million, just what analysts expected. Mac and iPad shipments were also roughly in line with what most were expecting.

Shares of Apple stock dropped in after-hours trading following the earnings report, changing hands recently at $115.48, down $2.77, or more than 2 percent.


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