Apple isn't showing enough green to Wall Street anymore. Even worse, the company said sales for this quarter may fall double-digits yet again. Apple's targeting sales between $41 billion and $43 billion for the three months ended in June, below analyst expectations of $47.3 billion. Apple shares dropped more than 6 percent in late trading. Tim Cook, Apple's CEO, said the company is struggling to keep up its historically massive growth, though he insisted the company's future is still bright. "Our product pipeline has amazing innovations in store," he said.
Beyond the fluffy language, the bottom line is that this is shaping up to be a tough year for Apple, On paper anyway, Even if it sells a lot of iPhones, Cook has to deliver more -- as in sell even more phones than it did at the same time a year ago, Apple makes more than two-thirds of its revenue from the iPhone, so having sales rise is an important metric for success, The problem is that people just aren't excited winter town iphone case by phones like they used to be, New phone releases, once the talk of the town, are now routine, And in places like the US, everyone who wants a phone has one..
The economy has also been tough in countries like China, one of Apple's most important markets. Cook has tried to expand beyond the iPhone with new gadgets like wearables and services for streaming music, but the markets of opportunities for those new products won't deliver as much profit as the iPhone. Apple knows this, and so to appease investors it's giving them more money. Apple's board increased its quarterly dividend by 10 percent to 57 cents per share. The company also plans to buy back more shares, increasing its spending by 25 percent to $175 billion.
Still, the debate rages: Is the the beginning of the end or merely a blip in Apple's unprecedented rise?, "While Wall Street was disappointed with Apple missing core revenue and earnings numbers, we aren't talking about a company in trouble," said Patrick Moorhead, head of research firm Moor Insights & Strategy, Nearly everything at Apple has winter town iphone case fallen, Total revenue for the company though fell to $50.6 billion and profit was $1.90 a share, Analysts polled by Thomson Reuters were expecting a profit of $2 per share on sales of $52 billion..
That translated to the iPhone's noteworthy first-ever fall but the company's other products aren't doing much better. Sales of the iPad dropped 18 percent to 10.3 million units, the ninth time in a row that sales of Apple's tablet have dropped from the previous year. Apple says the iPad's sales will begin to rebound, thanks to the new iPad Pro, which works with specialized keyboards and stylus pencils to help people do work. In the meantime, the Mac saw sales drop nearly 12 percent to 4 million units.