Apple Made Space For Concerns With A Revenue Slowdown And Holiday Quarter Challenges
Portfolio Pulse from Upwallstreet
Apple Inc. reported a 1% YoY drop in revenue to $89.5 billion for the September quarter, marking the fourth consecutive quarter of contraction. The company's hardware business, except for the iPhone, saw a decline in demand, with significant drops in the iPad and Mac segments. Revenue from greater China also fell 2.5% to $15.08 billion. However, services revenue rose 16.3% to $22.31 billion, and net income for the quarter was $22.96 billion. For the fiscal year ending in September, Apple saw a 3% decline in sales to $383.29 billion. The company expects flat revenue for the current quarter.
November 03, 2023 | 6:15 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Apple's revenue contraction for the fourth consecutive quarter and the lackluster outlook for its hardware business could negatively impact its stock price in the short term.
Apple's revenue has contracted for the fourth straight quarter, and the company's hardware business is showing signs of weakness. This could lead to a decrease in investor confidence and a potential drop in the company's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Alphabet Inc. is mentioned in the article as having disappointed analysts with its latest report, similar to Apple.
Alphabet's disappointing earnings report, similar to Apple's, could decrease investor confidence and potentially lead to a drop in Alphabet's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Microsoft Corporation is mentioned in the article as having impressed with its latest report, contrasting with Apple's disappointing results.
Microsoft's positive earnings report, in contrast to Apple's disappointing results, could boost investor confidence and potentially lead to an increase in Microsoft's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50