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Apple sees sales slump continuing, shares drop 2% despite beating sales expectations

Apple on Thursday forecast that a sales slump would continue into the current quarter, sending shares down despite beating Wall Street sales and profit targets in the fiscal third quarter. Apple shares dropped about 2% after the company predicted what could be the fourth quarter in a row of declining sales. For the just-ended period, strength in services drove the profit beat, but weaker than expected sales of Apple's most famous device, the iPhone, underwhelmed investors.

Transcripts for BBCNEWS World Business Report 20240604 10:33:00

buy it. what is happening with the iphone sales? iphone sales? well, it is really interesting iphone sales? well, it is really interesting to iphone sales? well, it is really interesting to see iphone sales? well, it is really interesting to see the - iphone sales? well, it is really interesting to see the ways - iphone sales? well, it is really interesting to see the ways in l iphone sales? well, it is really - interesting to see the ways in which iphone is becoming more and more powerful, actually. what we are seeing is an increasing diversity in the ways that people actually can and do buy iphones. one thing that we as a company have spent a lot of time researching has been second hand and how actually among second hand smartphone sales that is aware that lots of people are getting into iphone. because it is an affordable way to get a device. apple also spoke on the earnings call about the importance for them are financing options for iphone. that means it does allow people t

Qualcomm forecasts sales below estimates as smartphone slump persists, ET Telecom

The San Diego, California-based company said it also expects no further sales to Chinese telecom giant Huawei because it does not have a license to sell 5G chips to Huawei. More broadly in China, a slower-than-expected economic recovery weighed on orders to Qualcomm. Smartphone shipments in the world s second largest economy were down 5% in the June quarter, Canalys data showed.

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