Published: Wed, January 30, 2019
Tech | By Constance Martin

Apple iPhone revenue, once unflappable, is officially in retreat with 15% shortfall

Apple iPhone revenue, once unflappable, is officially in retreat with 15% shortfall

"The services number is good, and that is the growth engine going forward that people will continue to focus on", said Ivan Feinseth, an analyst with Tigress Financial Partners. At the time, Apple chief executive Tim Cook cited a slowdown in China's economy as well as President Trump's trade war for weakening iPhone demand.

Of course, not being able to source tiny screws might not be enough to derail that expansion, but the Times' sources suggested it was part of a broader issue Apple faces in moving manufacturing from China. "I'm optimistic that the two countries will be able to work things out".

If Apple ever had ambitions of moving its iPhone or more Mac assembly to the United States, the tale of a tiny screw might have derailed that.

Investors are eagerly waiting to see all the numbers from Apple's 2018 holiday quarter during today's earnings call.

iPhone sales in China might also improve a bit in the future, as it is expected that iPhone sales would rake in revenue of $136 billion in the fiscal year 2019 and $141 billion in the fiscal year 2020. He didn't allude to the streaming platform yet, but did mention that Apple Music has 50 million paid subscribers.

"When you look at foreign currencies and then particularly those markets that weakened over the previous year those (iPhone price) increases were obviously more", Cook told Reuters.

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Apple on Tuesday said its revenue fell 5 percent in the first quarter, compared with $88.3 billion a year earlier.

Apple CEO Tim Cook made a splash when he said in 2012 that his company would bring Mac Pro assembly to Texas.

Apple predicted its revenue for the January-March period will range from $55 billion to $59 billion.

The company's investors have been closely tracking the company's share repurchase activity in hopes that it will help buoy the share price, which has fallen more than 30 percent since November, knocking Apple off its throne as the world's largest technology company with a market value of more than $1 trillion. The company's net income for the quarter was $19.9 billion Dollars.

UBS also reports that Apple sold 64 million iPhones in the holiday quarter, which is lower than Wall Street's forecast of 68 million.

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