Apple set to report first holiday sales decline since iPhone launched 12 years ago
Anyone looking for an upbeat forecast from Apple Inc. is likely to be disappointed when the company reports results later today.
The company is set to report its first holiday quarter sales decline since the iPhone launched, and analysts are predicting revenue will keep shrinking in the current quarter.
In early January, chief executive Tim Cook forecast holiday quarter revenue of US$84 billion, well below an initial forecast of between US$89 billion and US$93 billion. He blamed the miss on lower-than-expected iPhone sales, particularly due to an economic slowdown in China.
Cook and chief financial officer Luca Maestri will take questions about Apple’s recent struggles during a conference call later on Tuesday.