We are Sure Bet News BTC famous casinos not on gamstop reviews
News from around the world

Apple Stock Dips After Cautious Outlook Overshadows Record iPhone quarter

apple-stock-dips

Apple (AAPL) stock dropped as much as 2% in morning trade on Friday despite the iPhone manufacturer releasing earnings late Thursday that exceeded expectations. The shares were negatively impacted by a cautious outlook for the current quarter.

Apple recorded $1.46 earnings per share for the fourth quarter of its fiscal year on $89.5 billion in revenue. Based on projections from Bloomberg, Wall Street had anticipated $1.39 earnings per share with $89.3 billion in revenue. Revenue decreased from the same quarter a year ago for the fourth consecutive quarter.

According to the company, iPhone sales climbed to $43.8 billion in the fourth quarter of its fiscal year, slightly above predictions and setting a new record. For the first time, services revenue crossed $22 billion.

Compared to the same quarter last year, revenues in its Wearables, iPad, and Mac categories decreased. Apple reported $383.3 billion in total sales for its just-ended fiscal year, a decrease from $394.3 billion the year before.

Apple CFO Luca Maestri stated that sales for the current quarter are anticipated to be “similar” to that of the same period last year during a conference call with investors after the results were released. Additionally, Maestri stated that the business anticipates a “significant decline” in revenue from the iPad and Wearables categories compared to the fourth quarter.

Based on information from Bloomberg, Wall Street experts had predicted that sales for the upcoming quarter would come to $122.8 billion. Apple had $117.2 billion in revenue during the December quarter of the previous year.

Maestri stated in an interview with Yahoo Finance that the market circumstances and what he called “very difficult compares versus a year ago” are to blame for the anticipated drop in Mac sales. “About half of buyers were new to the product in the quarter,” he continued, indicating that Apple does continue to draw in new customers to the Mac.

Apple anticipates higher revenue in the current quarter for its iPhone segment compared to the previous year.

According to Apple’s most recent earnings, its home market performed exceptionally well in the fourth quarter. The only significant region to witness revenue growth year over year was the Americas, where sales increased over the previous year.

Here are some highlights from Apple’s quarter that Bloomberg compared with Wall Street expectations.

  • Revenue: $89.5 billion versus $89.34 billion expected ($90.15 billion in Q4 2022)
  • Adj. EPS: $1.46 versus $1.39 expected ($1.29 in Q4 2022)
  • iPhone revenue: $43.8 billion versus $43.73 billion expected ($42.63 billion in Q4 2022)
  • Services revenue: $22.3 billion versus $21.36 billion expected ($19.19 billion in Q4 2022)
  • Mac revenue: $7.6 billion versus $8.76 billion expected ($11.51 billion in Q4 2022)
  • iPad revenue: $6.4 billion versus $6.33 billion expected ($7.22 billion in Q4 2022)
  • Wearables revenue: $9.3 billion versus $9.41 billion expected ($9.65 billion in Q4 2022)

The research released on Thursday comes only a few days after Apple debuted its most recent MacBook Pro lineup and refreshed iMac at its virtual Scary Fast event on Halloween Eve.

Related posts

Joey Barton Accused Of Malicious Communications

Soyiga

Mark Cavendish Announces Retirement Plans Following Final Tour de France

Soyiga

Eamonn Holmes Reveals New Career Path Following Ruth Langsford Separation

Soyiga

Delta Air Lines Faces Flight Disruptions and Federal Investigation

Sylvia

Elon Musk Speaks Out Against Child Gender Transition, Shares Personal Story About His Estranged Transgender Child

Sylvia

Tesla Reports Mixed Q2 Results, Delays Robotaxi Unveiling

Sylvia

Leave a Comment