Apple will stop reporting how many iPhones, iPads and Macs it sells
04 November, 2018, 23:31 | Author: Sally Reid
The forecast also may increase investors ' anxiety about the technological companies, whose shares are subjected to sale due to weaker than anticipated results Amazon and Google. It expects between $89 billion and $93 billion in revenue for its next quarter, whereas Wall Street expects $93 billion.
Apple CEO Tim Cook speaks during an event to announce new products Tuesday Oct. 30, 2018, in Brooklyn, New York.
On some deceleration in key emerging markets, Cook said the emerging markets that Apple is seeing pressure in are Turkey, India, Brazil, Russia.
Apple executives said that from now on, its earnings reports would no longer specify numbers of iPhones or other products sold.
The results drew a downgrade to neutral from buy by Bank of America Merrill Lynch analyst Wamsi Mohan, who wrote "we are incrementally concerned that not all the weakness is captured in the near-term and we are likely to see further negative estimate revisions".
Other analysts said the outlook remains positive for Apple as it diversifies its revenue base with more services such as streaming music and Apple Pay, and moves toward the launch of a video service that could compete with Netflix.
"Companies typically stop reporting metrics when the metrics are about to turn".
But now, Apple will give cost-of-sales data for both its total product businesses and its total services business, which will let investors evaluate a gross margin for both.
The new numbers are important for two reasons. That's especially surprising when you consider just how much success Apple has found in its wearables business - earlier today, it pointed to a 50 percent lift in Watch sales.
Apple CEO Tim Cook introduces the new iPad Pro during an Apple launch event in the Brooklyn borough of NY, U.S., October 30, 2018. After all, the company has often managed to generate high revenues even with a small number of device sales. What makes the scenario worse for Apple is, this is the fourth consecutive quarter when the Cupertino giant has witnessed either negligible growth or absolutely no growth in the quarterly sales of iPhone.
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