Apple shares tumble after company warns of subdued growth in holiday quarter

fell 3 per cent on Friday after it disappointed Wall Street with a forecast that indicated growth will stay subdued in the quarter where the holiday season usually drives its strongest sales.

The projection fanned fears about broader holiday demand, with estimates including those from the U.S. National Retail Federation and Deloitte predicting the slowest rise in sales in the crucial shopping period in years due to sticky inflation. “We view management’s flat sales guidance as proof the company cannot rely on iPhone sales to drive shares higher, as it has in the past,” D.A. Davidson analyst Tom Forte said.

Singapore Singapore Latest News, Singapore Singapore Headlines

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

Hedge fund investors pull $80 billion from industry in 2023The hedge fund industry saw a net $80 billion of outflows for the year to Oct. 18, even as it raked in net profits of about $119 billion, hedge fund...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Hedge fund investors pull $80 billion from industry in 2023Market News
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Hedge fund investors pull US$80-billion from industry in 2023: AurumOutflows grow despite raked in net profits of about US$119-billion
Source: globebusiness - 🏆 31. / 66 Read more »

Apple earnings preview: Investors eye iPhone demand amid stiff competition in ChinaApple is set to report quarterly earnings after the bell on Thursday.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »