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

Germany Plans On Cyber Security Research To End Reliance On U.S. Tech

Fuchsia will kill Android by 2023: Top 5 facts about the new OS

New Study Finds Goats Interact More With Happy People

More than 32 thousand "smart" houses under threat of hacker attack

Internet addiction and children: Global plague

Apple takes up to develop Apple Watch for health monitoring

Hyperloop is growing in Europe

Analysts: US gamers prefer mobile games

Google Assistant Winner Of Head-To-Head Test Of Digital Assistants, Beats Siri And Alexa

Animals Can Burn Muscle To Supplement Body Water Needs, Finds A Study

World Politics

World & Politics

10 countries with the best healthcare systems

Foreign Experts To Be Allowed By North Korea For Permanent Destruction Of Missile Sites

Ireland recovers €14.3 billion from Apple

Is China going to cancel its birth limit policy?

The US is ready to start negotiations with China

US and China start 5G race

Is Czech Republic posing a threat to the European Union?

Myanmar Military Top Brass should be investigated and prosecuted for genocide: UN