After first revenue decline in 15 years, Apple forecasts return to growth in holiday quarter
As expected, Apple on Tuesday posted its first year-over-year revenue decline in 15 years for the fourth fiscal quarter of 2016, but the company is guiding for a rosy forecast next quarter on strong anticipated iPhone sales.
Apple is forecasting revenue between $76 billion and $78 billion for the three months ending in December, typically a lucrative quarter thanks to the holiday shopping season. The guidance is up from the $75.9 billion performance put in at the same time last year.
According to the Financial Times, Apple CFO Luca Maestri told reporters initial demand for iPhone 7 "bodes well as we get into the December quarter." Separate reports had Maestri saying supply still lags demand for iPhone 7 Plus models and all Jet Black iPhone 7 versions.
For the first quarter of 2017, the company is guiding gross margin between 38 percent and 38.5 percent, with operating expense set between $6.9 billion and $7 billion. The usual 26 percent tax rate applies.
Apple narrowly beat Wall Street expectations for the fourth quarter of 2016 with $9 billion in net income on revenues of $46.9 billion, largely driven by iPhone sales of 45.5 million. Large numbers compared to tech sector competitors, the performance marked the first decline in revenues for Apple since 2001.
Apple is forecasting revenue between $76 billion and $78 billion for the three months ending in December, typically a lucrative quarter thanks to the holiday shopping season. The guidance is up from the $75.9 billion performance put in at the same time last year.
According to the Financial Times, Apple CFO Luca Maestri told reporters initial demand for iPhone 7 "bodes well as we get into the December quarter." Separate reports had Maestri saying supply still lags demand for iPhone 7 Plus models and all Jet Black iPhone 7 versions.
For the first quarter of 2017, the company is guiding gross margin between 38 percent and 38.5 percent, with operating expense set between $6.9 billion and $7 billion. The usual 26 percent tax rate applies.
Apple narrowly beat Wall Street expectations for the fourth quarter of 2016 with $9 billion in net income on revenues of $46.9 billion, largely driven by iPhone sales of 45.5 million. Large numbers compared to tech sector competitors, the performance marked the first decline in revenues for Apple since 2001.
Comments
Yeah! I'm actually torn between the two. Love my PowerBeats2 Wireless, with the only irritation being the connecting wire keeps getting snagged on my neck/collar. Really want to see how well the Air Pods fit and stay put with activity/sweating.
I hate the 6 and 7 with a passion. Tried and just can't force myself to like it. Nasty oversized slippery thing. The SE was a breath of fresh air and allowed me to get rid of the 6. First iPhone I never upgraded to, the 6S. From the original to through.
Ignore damonf and his narrow vision coupled with a lack of empathy. Sickening how Apple has attracted this endless list of people who can't see the wood from the trees of different needs and desires
Would love a 2017 version.