Apple Earnings: Stock Slides As Disappointing iPhone Sales Lead Profits To Slip

year-over-year decline since 2019 and a 5% decrease from the same timeframe last year, and tallied $30 billion in profit in the period, or $1.88 per share, an 11% decline.

That falls well short consensus analyst estimates of $121.4 billion in sales and $1.94 earnings per share, according to FactSet. Apple brought in $20.8 billion from services, such as iCloud and AppleTV+, and $96.4 billion from products during the quarter, with iPhones accounting for a majority of product revenues following the iPhone 14 launch.

The company reported $65.8 billion in iPhone sales in the quarter, an 8% decrease from the same period a year prior and short of analyst expectations.$2.4 trillion. That was Apple’s market capitalization at Thursday’s market close, by far the largest of any public company. Apple lost nearly $100 billion in market cap based in after hours trading.

The iPhone is 10 years behind Google, Samsung, and other Android phones. They haven't innovated in the mobile space for quite some time.

Disappointing to only clear 30 billion net profit 😂😂

😬😬😬😬😬🫠

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock futures fall after earnings reports from Apple, Alphabet disappoint investorsStruggles of major tech stocks weighed on the market. Victoria E Morgan on Facebook flipped my acc to $15k in five days she's the best analyzer ever with good indicators , she's a teacher and a good mentor that wants to help people reach their goal, she's has made me happy now I trade comfortably meet her whatsapp+447378509930
Source: CNBC - 🏆 12. / 72 Read more »

UBS downgrades Snap after earnings, says rising competition will keep pressure on stockUBS' downgrade comes after Snap reported its fourth-quarter results. Earnings came in slightly above estimates, but revenue was lighter than expected. Let the dust settle, then scale in to calls and shares before the US bans tik tok
Source: CNBC - 🏆 12. / 72 Read more »

Spooky Snapchat ad promotes its AR filters; SNAP's Q4 earnings produce stock sell-offSnapchat's television commercial was spooky as it displayed some of the app's AR-based filters.
Source: PhoneArena - 🏆 322. / 59 Read more »

Meta stock spikes nearly 20% as cost cuts and $40 billion for investors overshadow earnings missMeta shares soared in after-hours trading Wednesday despite an earnings miss, as the Facebook parent company guided for potentially more revenue than Wall Street expected in the new year and promised more share repurchases amid cost cuts.
Source: MarketWatch - 🏆 3. / 97 Read more »

Snap stock price dives 11% on earnings, and 'issues are intensifying'Snap plunges 11% on ugly earnings and analyst warnings that 'issues are intensifying' at the social media company
Source: BusinessInsider - 🏆 729. / 51 Read more »