Published: Sun, November 04, 2018
Markets | By Noel Gibbs

Apple shares fall on lacklustre expectations for holiday sales

Apple shares fall on lacklustre expectations for holiday sales

But Apple can't avoid the problem forever. In the past, Apple gave only an overall gross margin figure for the company. The sales of iPhone in Q4 2018 failed to meet the analysts' expectations but generated enough of revenue to refrain critics from being so vocal. So, back to the results, how did Apple do during the last few months?

Apple stocks didn't react well to the lower than expected unit sales though.

Thursday's update showed that iPhone sales in the three months to 29 September were level with the same period a year ago, despite the launch of the more expensive XS and XS Max models in the final fortnight of the quarter.

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Thanks to last year's release of the first iPhone to cost $1,000, the average price has increased by at least 11 percent in each of the past four quarters.

Global sales had a huge role to play as Apple recorded 61% of its revenue from it. iPhone sales were not as impressive as it sounds as Apple sold 46.89 million iPhones as compared to 46.7 million iPhones sold in 2017.

But Cook stressed that Apple was happy with its performance in China, where revenue grew 16 per cent to $11.4 billion, the fifth quarter in a row the company has had double-digit growth in the region.

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But most Wall Street firms were fixated on the future omission of unit sales data. It's a bet that consumers will continue to pay up for access to the company's specialized and tightly integrated hardware and software.

But at some point Apple's going to have to figure out what will replace the iPhone, or it won't be able to squeeze any more juice out of the orange. It's also the central hub for connecting the other devices and using services. Services revenue reached an all-time high of United States dollars 10 billion. However, this has generally been a problem even for other smartphone companies this year.

" We're thrilled to report Apple's best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth", said Tim Cook, Apple's CEO. The most notable message came during the earnings call where Cook revealed that it is looking to set up retail stores and expand local manufacturing in India.

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Revenue was up 20% on a year ago at $62bn while profits rose 41%. They later settled at $207.81, about 6.5 percent below their previous close. From 18.3% share in Q4 2016, Apple's share has declined to 13.2% in Q3 2018. At market close on Thursday, Apple shares were up more than 25 per cent for the year - supported by purchases by Warren Buffett and a $100 billion share buyback program - while the Nasdaq Composite Index is almost flat for the year.

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