Daily Management Review

Apple’s Revenue Loss Influences Wall Street Index


05/04/2016


Analysts revise their bids after the news of loss in Apple’s quarterly revenue was known.



Apple’s Revenue Loss Influences Wall Street Index
The session started on a lower note for Wall Street as one of Apple’s large share slipped down taking along the average rating of the main market. Apple’s stock came down by “7.09% to $96.97” after the volumes of the quarterly sales of “its iconic iPhone” fell for the first time since the year of 2007 by “16% to 51.2m units”.
 
Consequently, Apple saw a thirteen percent drop in its quarterly revenues which brought down the figure to “$50.56bn”. On the other hand, the profit percent took a beating of twenty two percent to “$10.5bn”.
 
The major cause of this loss came as the result of “slowing upgrades” in Apple’s iPhone 6S, “tracking significantly below those for the 6 model”. It is for this reason that the chief executive officer of Apple, Tim Cook, thought of increasing the “ante on the pace of de-stocking in its distribution channels by $1.2bn to $2.0bn”.
 
However, the said move of Cook brought about a “short-fall” in Apple’s “revenues guidance” for “June quarter”. Economists of Morgan Stanley has reduced their target price for shares whereby bringing it down to “$120” from “$135”, yet it they repeated their stance of “overweight”. The analysts team is headed by Katy L.Huberty, who wrote in a “research note” that was sent clients informing them of the “latest numbers from the company”.
“Given the mixed macroeconomic commentary and the slower upgrade cycle highlighted by both Apple and US carriers, we assume little improvement in the next two quarters.
“While shares may take a pause near-term, we like the set-up of a lower bar heading into easier compares and product cycles in C2H16”.
 
 
 
References:
http://www.digitallook.com/







Science & Technology

30,000 Fake Accounts Cracked Down Upon In France by Facebook

First Laser Sensors Set To Be Rolled Out By Self-Driving Start-Up

To Keep Elderly On The Move, Japan Automakers Look To Robots

AMD purchases wireless VR developer Nitero

In Order To Combat Fraudsters, Experian Enlists Behavioral Biometrics Startup

Daimler and Robert Bosch to create a self-driving car

Miniature Lab Conducts Successful Experiments In The Outer Space

Germany is not afraid of digitalization

Driver-less Car Sector Shaken Up By Intel's $15 Billion Purchase Of Mobileye

Talk To Appliances, Or Text Them? Smart Condo Conundrum

World Politics

World & Politics

US Aircraft Carrier Could Be Struck At Any Point, Says North Korea

Various Countries’ Computer Security Watchdogs Collaboratively Discover Activities Related To Large Scale ‘International Cyber-Attack’

Europeans keep € 15 billion in obsolete money

Japan invited to conclude a trade agreement with the EU

Present “Great Repeal Bill” Punches Holes On Prime Minister May’s Worker’s Rights Agenda

China to become second largest importer of wine

EU Ambassador Tells US To Think Twice Before Making UN Irrelevant,

Skytrax names best airports in the world