Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, January 4, 2019

Article Excerpt

APPLE INC., $148.26, Nasdaq symbol AAPL, fell 7% this week after the company cut its revenue forecast for its fiscal 2019 first quarter, which ended December 31, 2018. Apple now expects revenue of $84 billion for that three-month period. That’s down from its earlier forecast range of $89 billion to $93 billion. The drop is due to weak demand in China for its new iPhone models. Sales of iPads and Mac computers in that country also declined. The Asian country contributes about 20% of the company’s overall revenue, and Apple has blamed the sales drop on escalating trade tensions between the U.S. and China. That has hurt customer traffic at its stores. Meantime, the company continues to benefit as its customers buy more services such as music downloads. In the latest quarter, its revenue from services totalled $10.8 billion. It also expects that the 2020 revenue for this business will be double that of 2016. However, Apple’s high reliance on selling iPhones (which account…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.