Apple shares fall in after-hours trading on cautious sales outlook

Apple shares fall in after-hours trading on cautious sales outlook

Apple shares have plunged in after-hours trading after the iPhone maker's forecasts for revenues in the the crucial Christmas period missed expectations.

For the quarter ended in September, Apple brought in $62.9 billion in revenue, beating expectations of $61.5 billion respectively. Analysts were looking for $92.7 billion, according to data compiled by Bloomberg.

Apple's decision to hide the sales of iPhone, iPad and Mac in terms of unit, also hints about the rainy days Apple could be witnessing in the quarters to come - sales of iPhone going negative.

Apple became even bolder with its iPhone lineup this year.

On some deceleration in key emerging markets, Cook said the emerging markets that Apple is seeing pressure in are Turkey, India, Brazil, Russia.

"Apple management are probably more concerned that a higher unit sale price might prompt accusations that the company is taken its customers for granted by continually ramping up prices", he said. He looked relaxed and in command in his crisp white oxford and quarter zip blue pullover, flashing a victory sign to photographers as he mingled with journalists and some celebs later in Apple's demo area.

Last month, Apple introduced a second-generation iPhone X, dubbed the iPhone XS, which began shipping at the end of September.

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To be clear, Apple is under no obligation to say how many iPhones it sells every quarter. It upgraded the features of the X with the $999 5.8-inch XS.

Apple's iPhone sales are set to dip by around a quarter in India's holiday season fourth quarter, putting them on course for the first full-year fall in four years, industry research firm Counterpoint said on Saturday. It's a bet that consumers will continue to pay up for access to the company's specialized and tightly integrated hardware and software. With a starting price of $749, it's expected to be a popular holiday gift, luring owners of older iPhones to upgrade. Apple has raised the prices of its high-end iPhone models in recent years to offset slowing unit sales growth and sagging demand for smartphones. It's also the central hub for connecting the other devices and using services. Services revenue hit a record $10bn in the quarter.

Apple earned $14.1 billion, a 32 percent increase from the same time previous year during the past quarter.

Subscriptions to Apple services, meanwhile, were up 50 per cent. So, back to the results, how did Apple do during the last few months? Those include increased government regulation, the escalating US trade war with China and the specter of rising interest rates crimping economic growth. Worldwide sales accounted for 61 percent of the quarter's revenue. This comes at a time when revenue segments like Services have overtaken Mac and iPad segments in sales.

"AAPL will stop disclosing unit sales figures next qtr, fueling fears the company has something to hide", the Jefferies analyst Timothy O'Shea said in a note. Whether this will have any positive effect on overall device sales remains to be seen but even if it does, we will probably never know after the announcement today.

Apple's App store has felt the impact of a "moratorium" on Chinese approvals for new games, but that is a domestic issue, he added.

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