Apple posts record revenue but its value slips under $1tn - General Business

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Apple shares sink as Xmas sales forecast disappoints investors

Besides fretting over Apple's fiscal fourth-quarter results, Wall Street also was let down by a slightly disappointing revenue forecast for the current quarter covering the holiday season - a projection suggesting that iPhone sales will fall below the 78 million units analysts had expected for the period.

The company said it saw great response to the new MacBook Pro models launched in July, with strong double digit revenue growth driving an all time quarterly record for Mac revenue.

Apple sold 46.9m iPhones in the quarter, generating sales of $37.2bn, but eyebrows have been raised by escalating price tags which are stretching the wallets of even the most devoted Apple fans.

Shares in Apple Inc (AAPL.O) fell 6 percent on Friday, cutting its market value back to less than $1 trillion.

Apple sold 9.7 million units of iPad, bringing in US$4.09 billion as revenue. However, the device is increasingly being seen as a vending machine for Apple services like iCloud and Apple Music.

Cook in an interview with Reuters said that Apple is "seeing some macroeconomic weakness in some of the emerging markets".

"The "jaw dropper" last night was when Apple announced it will stop providing units/ASPs for iPhones, Macs and its other product lines", the Wedbush analyst Daniel Ives wrote.

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Danish Foreign Minister Anders Samuelsen said it was now time for Brussels to toughen its stance against Iran . ASMLA seeks a separate state for ethnic Arabs in Iran's oil-producing southwestern province of Khuzestan.

Others were a little more forgiving, pointing out that the move marks Apple's well-documented transition from a big hardware company into a services business.

Campling said that it now appears that Apple will give commentary when it has good news, but not when things are bad. The decision to withhold the information was interpreted as a sign that Apple anticipates years of growth in the number of iPhones sold coming to an end, overshadowing what was a record quarter for the California-based company.

Keep in mind that these are units refurbished by Apple itself, which means you they're tested, certified, cleaned, given a new battery and outer shell, and come with a one-year warranty that you can extend with AppleCare+.

At that event, the Apple boss was bullish on the future of the iPad, but the latest figures show tablet sales for the firm were down 6% on this time a year ago, with revenue down 15%.

Cook also touted the App Store, which he says is the "safest" place to get apps; Apple, he says, reviews all apps in it and guarantees users don't have to share a tonne of data with lots of companies. Notably, iPhone revenue jumped by 29% year over year, a fact which is obviously attributable to consumers picking up pricier iPhone models.

For its full fiscal 2018 ended in September, Apple reported revenue of $265.6 billion and profits of $11.91 per share, beating analyst estimates of $264 billion and $11.79 per share. What makes the scenario worse for Apple is, this is the fourth consecutive quarter when the Cupertino giant has witnessed either negligible growth or absolutely no growth in the quarterly sales of iPhone. Apple decided to make a couple of big changes to the information it discloses every quarter.

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