Apple’s 1Q iPhone Headwinds Look Menacing

Longer-Term Outlook Remains Bright Thanks to Services

Abhinav Davuluri 03.01.2019 | 8:39

On Jan. 2 2019, Apple released a letter from CEO Tim Cook with revised revenue guidance for Apple’s fiscal 2019 first quarter. Specifically, revenue is now expected to be $84 billion versus a prior range of $89 billion to $93 billion. The new revenue figure implies a 5% year-over-year decline. The chief culprit was Greater China, as most of the firm’s revenue shortfall to its guidance stemmed from the region across iPhone, Mac, and iPad. Cook cited a softer economic environment combined with rising trade tensions between China and the United States. In contrast, non-iPhone segments (services, Mac, iPad, and wearables) combined to grow nearly 19% year over year. Positively, services revenue is expected to be $10.8 billion during the December quarter, which implies 28% year-ov

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Abhinav Davuluri  er senior aksjeanalytiker hos Morningstar.

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