The delay in the launch of the iPhone from Apple led to a loss of $ 100 billion in market value temporarily
The delay in the launch of the iPhone from Apple led to a loss of $ 100 billion in market value temporarily

The late release of the iPhone 5G has delayed the purchase of new devices by Apple customers and prompted the company to announce on Thursday the biggest quarterly drop in iPhone sales in two years.

Apple had already decreased by more than 5% at some point in OTC trading, causing a loss of $ 100 billion in its market value.

Since 2013, Apple has released a new version of the iPhone in September. However, the delay caused by the outbreak of the Coronavirus (Covid-19) COVID-19 has delayed its release by a month, and some devices are still in the pipeline. a discount.

Although Mac and AirPod sales increased in total revenue and profits significantly, beating analysts' expectations, iPhone sales fell 20.7% to $ 26.4 billion.

Investors expect a drop in sales of Apple, but the drop is stronger than expected, especially in China, where the number of consumers using 5G networks exceeds that of the United States or Europe.

Apple launched a number of new products and services that beat sales expectations for this year. Customers of these new products and services have stayed home most of the time during the pandemic and have welcomed them.

According to Apple Computer, IBES data from Refinitiv said sales and profits were $ 64.7 billion and 73 cents per share for the fourth quarter ended September 26, while analysts had forecast $ 63.7 billion. Dollars and 70 cents a share. .

Apple CEO Tim Cook said in an interview with Reuters that he is "optimistic" about the iPhone 12 cycle according to the first five days of data release. He added, "5G networks are an opportunity that presents itself every ten years."

The introduction of the iPhone 12 cut sales in Greater China by 28.5% to $ 7.95 billion. Cook said he expects the new 5G device to help iPhone sales in China.

"What we saw in the first five days gives us confidence that China will grow again in the first quarter of this fiscal year," Cook told Reuters.

Apple did not provide any forecasts for revenue growth, but CFO Luca Maestre said: Revenue from non-iPhone services and products will double in the first quarter of this fiscal year, in line with analyst expectations. He said: iPhone revenue will rise as well, which means the price will be in single digits. According to Refinitiv, analysts expect iPhone sales to rise 6.45% to $ 59.56 billion in the first quarter.

Cook told Reuters: Apple paid 585 million subscribers through its platform, raising 550 million subscribers in the previous quarter to this number, which is closer to the company's goal of adding 600 million subscribers by the end of 2020.

Apple said: According to Refinitiv, its accessories business grew 20.8% to $ 7.9 billion, while the average analyst forecast rose by 13.5% to 7%. $ 4 billion. According to Refinitiv, Mac and iPad sales have increased to $ 9 billion and $ 6.8 billion, respectively, while it is expected to reach $ 7.92 billion and $ 6.12 billion, respectively. United States dollars.

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