Apple’s iPhone shipments for the fiscal third quarter and the company’s revenue forecast for the current period missed analysts’ projections, raising questions over whether demand for the device has peaked. Technalysis Research Founder and Chief Analyst Bob O'Donnell, Creative Strategies Principal Analyst Ben Bajarin and Bloomberg's Mike Regan speak on "Bloomberg West" in the video above, on July 21, 2015.
Not a good day (July 21, 2015) for Apple--both Apple iPhone shipments and the revenue forecast for 3Q 2015 missed estimates and the stock took a tumble in after-hours trading, which if it holds when regular trading resumes Tuesday, July 22nd, could result in the second largest one-day loss of market capitalization in the world's largest company, Apple, as measured by total stock market capitalization. NASDAQ:AAPL.
While Apple sold 47.5 million iPhones, a 35 percent gain, in the period that ended in June, the analysts had anticipated 48.8 million shipments, and Apple is expected to exceed estimates. To add insult to injury, Apple forecast revenue of $49 billion to $51 billion in its fiscal fourth quarter, which ends in September, short of the average estimate for $51.1 billion, according to Bloomberg: "Any indication of slowing demand for iPhones could spark concern that Apple is going to have a hard time selling more smartphones in the final months of the year."
Check the stock: NASDAQ:AAPL
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