The iPhone maker has missed its revenue projections for the past quarter. Apple lowered the forecast for the past three months to 84 billion dollars. Expected at least 89 billion.
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Apple’s Christmas business disappointed
The correction back especially on the poorer sales of the iPhone in China, – said CEO Tim Cook. Apple have underestimated the economic slowdown in this market.
Not weaken in China
But also in some developed markets, not so many users had switched to new iPhones as I thought, said Apple, without naming the countries. The last quarter of the year due to the Christmas business, traditionally, the most important thing for Apple. The US-based group had set up in these three months previously, multiple records in turnover and profit.
The statements from Apple fueled Fears of a global economic slowdown and fuelled renewed concern about a slowdown in China. The Chinese Central Bank also warned that the Chinese economy could continue to lose momentum, and it is possible that the growth fell in the fourth quarter of 2018, below the threshold of 6.5 percent.
Fierce has been the effect of these Fears on exchange rates: The safe port of the applicable Japanese Yen climbed in a volume of the low volume of trade within a few seconds strong. The exchange rate broke through technical barriers, triggering in the trading systems even more purchases. “Looks like we had a Flash Crash,” said Ray Attrill, currency strategist at National Australia Bank. The Dollar fell in the top by more than three percent to 105,25 Yen, it recovered but later returned and was listed at 180 Yen.
Fierce impact on the Japanese Yen and other currencies
The reduction in the revenue forecast also expresses the mood on the stock exchange in Germany. The Dax fell on Thursday in the first minutes of trading just 0.9 percent. On Wall Street, Apple shares lost after trading hours to around eight percent.
The iPhone is the most important Apple product and brought in around 60 percent of the total revenues. In the past Christmas business alarm signals began to increase already. The media and analysts reported that production cuts to the iPhone.
“So this is now quite surprising, because Apple is facing a lot of problems”, said Analyst Craig Erlam from OANDA in London compared to DW. “And if you look on the deeper problems, then you, the Apple is not quite so innovative as before.” In addition, Apple will meet, in the meantime, a number of competitors, which are now very innovative, so Erlam. “Especially since Huawei is, and the difference in quality between a Apple Smartphone and Huawei’s is not as big as the difference in price.”
Numbers remain secret
Apple had recently brought out once more expensive new models of its Smartphones. The cheapest phone, the iPhone XR, which is available in Europe from 849 Euro to last. The group had already announced, from the Christmas quarter, not a piece of devices sold in numbers to publish more of what has been interpreted by some market observers as a sign of a slowdown in iPhone sales.
Apple is to Microsoft, the most valuable publicly traded companies in the world. The stock market value of Microsoft is currently estimated at 754 billion dollars, the Apple with still 715 billion.
haz/ar/qu (rtr, dpa)