Weak iPhone Demand Could Lead To Apple's Largest Q3 Revenue Drop Since 2016
Portfolio Pulse from Rounak Jain
Weak demand for iPhones in the US and South America, and flat demand in China, could lead to Apple Inc.'s largest Q3 revenue drop since 2016. The slowdown is attributed to a weak economy and anticipation for the iPhone 15 series launch in September. The Americas region is expected to see a 6% revenue decline, with iPhone revenue expected to decline by 2% overall.
August 04, 2023 | 10:42 am
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Apple Inc. is expected to experience its largest Q3 revenue drop since 2016 due to weak iPhone demand. The upcoming iPhone 15 series is causing consumers to hold off on purchases.
The news directly mentions Apple Inc. and its expected Q3 revenue drop due to weak iPhone demand. This is likely to negatively impact the company's stock in the short term as revenues are a key factor in a company's valuation.
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