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Apple to stop reporting how many devices it sells, stock falls on weaker holiday estimates

By midian182 · 7 replies
Nov 2, 2018
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  1. Apple revealed had it sold 46.9 million iPhones during the previous quarter. That shows flat growth compared to the 46.7 million it sold last year and misses analysts’ expectations of 47.6 million units. However, revenue from the handsets was up 29 percent to $37.2 billion, thanks to the iPhone’s average selling price jumping from $618 to $793. Analysts had been looking for $741.

    This will be the last quarter that Apple reveals how many iPhones, iPads, and Macs it shipped. The company says it wants to simplify the reporting process, but the reality is that unit numbers are flat while revenue is increasing, so it wants people to focus only on the latter.

    "As demonstrated by our financial performance in recent years, the number of units sold in any 90-day period is not necessarily representative of the underlying strength of our business," said Financial Chief Luca Maestri. "Furthermore, our unit of sale is less relevant for us today than it was in the past, given the breadth of our portfolio and the wider sales price dispersion within any given product line."

    Despite the falling shares, this was Apple’s best-ever fourth quarter. Revenue was up 20 percent YoY to $62.9 billion, with earnings per share of $2.91, up 41 percent. Both beat expectations. The company also recorded its highest ever quarterly services revenue: $10 billion, up 17 percent YoY.

    Revenue growth was up in all major markets, with Japan seeing the largest increase of 34 percent YoY. 'Other Products,' which includes Apple TV and the Apple Watch, was up 31 percent to $4.23 billion.

    But it was Apple’s future guidance that spooked investors. It expects between $89 billion and $93 billion in revenue for its next quarter, whereas Wall Street expects $93 billion. In an interview with Reuters, CEO Tim Cook blamed this on weakness in emerging markets, foreign exchange costs, and uncertainty whether the iPhone maker can keep up with demand for new products.

    The lower-than-expected revenue forecast caused Apple’s shares fall to as low as $205.50 a share in after-hours trading, which saw the company fall below the $1 trillion valuations it recently hit. Shares have since recovered slightly, and Apple is now back above that milestone.

    Permalink to story.

  2. Uncle Al

    Uncle Al TS Evangelist Posts: 5,393   +3,780

    That's always been known as the FIRST sign of a company in trouble .... wonder if they will hide this information from their stock holders as well?
    crocography likes this.
  3. You mean to tell me that people don't want to buy phones that cost $1,499 for the highest model?

    The Apple cash cow could only survive as long as the sheep would still buy their overpriced phones.
    crocography likes this.
  4. p51d007

    p51d007 TS Evangelist Posts: 1,967   +1,230

    When a corporation goes "public" it stops becoming a company, and ends up becoming a STOCKHOLDER company who's ONLY desire is to make more money, prop up the stock price and the heck with the quality of the products they produce as long as they are as CHEAP to make, and EXPENSIVE to sell.
  5. VitalyT

    VitalyT Russ-Puss Posts: 4,478   +3,037

    crocography likes this.
  6. fl21289

    fl21289 TS Booster Posts: 95   +76

    Just ordered my OnePlus.... moving away from Samsung also. I refuse to pay $1000 for a mobile device.
    crocography and ShObiT like this.
  7. ShObiT

    ShObiT TS Maniac Posts: 182   +167

    Lol, I'm still in the $400 TOP for my mobile device, I don't care if Chinese SkyNet is farming my habit!
    crocography likes this.
  8. toooooot

    toooooot TS Evangelist Posts: 822   +406

    I really wanna try those latest Motorola slim devices. I played with it a the store and the only thing I didn't like was slow camera, compared to galaxy s8. Design though, I really wanna got one after not using a Motorola for so many years.

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