For years, Apple investors and customers marveled as the number of iPhones sold seemed to defy gravity. Now the show is coming to an end.
Apple said Thursday it plans to stop reporting how many iPhones, iPads and Macs it sells each quarter, in what could be a nod to flatlining growth in some of these product lines. Apple will continue to report revenue for these categories.
The move was just one of the concerning announcements Apple made Thursday. The company also said it expects sales in the all-important holiday quarter to be between $89 billion and $93 billion, skewing short of analyst estimates. At the low end of that range, Apple’s holiday sales would be little improved from the record $88.3 billion it reported a year ago.
Apple stock fell as much as 7% in after hours trading Thursday following the earnings report. If those losses hold, Apple risks losing its status as the lone trillion-dollar company.
The holiday sales forecast is closely watched as it offers the first real glimpse into expected demand for Apple’s new lineup of iPhones. The pricier iPhone XS and XS Max went on sale in the final days of the September quarter, and the more affordable XR went on sale last month. Read more
