{"id":204042,"date":"2021-07-28T22:17:17","date_gmt":"2021-07-28T22:17:17","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=204042"},"modified":"2021-07-28T22:17:17","modified_gmt":"2021-07-28T22:17:17","slug":"apple-shares","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/apple-shares\/","title":{"rendered":"Record decline for Apple shares after forecasting slow growth"},"content":{"rendered":"

Apple shares have fallen fell 2.9% in late trading, after the company warned that sales growth could slow amid weak supplies, dampening investor enthusiasm after record third-quarter business results.<\/p>\n

Apple said in a virtual conference that supply bottlenecks will affect iPhone and iPad products in the current quarter, and slowing demand for services will lead this decline.<\/p>\n

The company refused to provide specific forecasts about revenue, a practice it adopted during the outbreak of the Coronavirus pandemic.<\/p>\n

Apple shares<\/strong><\/h2>\n

The cautious comments followed a 36% increase in sales in the third quarter, to $81.4 billion in revenue, beating Wall Street estimates of $73.8 billion. However, investors will wait and see then decide.<\/p>\n

Apple’s business will be affected this year due to the lack of parts and restrictions imposed by the Coronavirus.<\/p>\n

On the other hand, the company’s business is booming, as sales of the iPhone, Apple’s main product, grew by about 50% to reach $39.6 billion in the last quarter.<\/p>\n

The third quarter is usually Apple’s slowest, as consumers wait for new releases around September.<\/p>\n

But, iPhone 12, which supports G5 networks, seems to have helped the company change that trend.<\/p>\n

Apple still expects strong growth of more than 10% in the fourth quarter.<\/p>\n

\u201cOur record June quarter operating performance included new revenue records in each of our geographic segments, double-digit growth in each of our product categories, and a new all-time high for our installed base of active devices,\u201d added Luca Maestri, Apple\u2019s chief financial officer.<\/p>\n

\u201cWe generated $21bn of operating cash flow, returned nearly $29bn to our shareholders during the quarter, and continued to make significant investments across our business to support our long-term growth plans.\u201d<\/p>\n

Third-quarter revenues<\/h2>\n

Apple had warned that third-quarter revenue would be hit by 3 – 4 billion dollars due to chip shortages affecting some components of the iPad and Mac.<\/p>\n

Third-quarter earnings were $1.30 per share, compared with expectations of $1.01 per share.<\/p>\n

This sector relies heavily on sales of in-app purchases and downloads of third-party apps.<\/p>\n

Apple recently reduced the discount it offers for most apps to 15% instead of 30%.<\/p>\n

The company has launched a large number of new services in recent years, including Apple TV Plus and Apple Arcade, but it did not address the performance of these services.<\/p>\n

The wearables, home appliances and accessories segment grew 36% to $8.78 billion.<\/p>\n

This category includes Apple Watch, AirPods, Apple TV, HomePod<\/a> and many other accessories.<\/p>\n","protected":false},"excerpt":{"rendered":"

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Apple said in a virtual conference that supply bottlenecks will affect iPhone and iPad products in the current quarter, and slowing demand for services will lead […]<\/p>\n","protected":false},"author":4,"featured_media":204043,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[120,278],"class_list":["post-204042","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-apple","tag-featured"],"yoast_head":"\nRecord decline for Apple shares after forecasting slow growth -BNReport<\/title>\n<meta name=\"description\" content=\"BNReport - Apple shares have fallen fell 2.9% in late trading, after the company warned that sales growth could slow amid weak supplies\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/apple-shares\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Record decline for Apple shares after forecasting slow growth -BNReport\" \/>\n<meta property=\"og:description\" content=\"BNReport - 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