October 31, 2020

Apple lowers the sales forecast due to the pressure of the tariff war | Economy

Apple lowers the sales forecast due to the pressure of the tariff war | Economy



Apple has a credibility problem. And he staged it by alerting investors that sales during the quarter that coincide with Christmas purchases will be lower than expected. It's an unusual admission for the manufacturer of the iPhone and Mac, which caught the analysts by surprise. Among the reasons for this reduction cites the pressure that is entering the commercial dispute between China and the United States and the strength of the dollar.

The new projection given to investors is of an income of 84,000 million dollars for the first quarter of its fiscal year, in which it released the new models of the iPhone. Just two months ago he made an estimate of up to 91,500 million. The unusual announcement was made at the close of Wall Street and the effect was immediate. The shares of the company fell more than 7%, after the quotation was suspended.

Apple billed 78,400 million a year ago in the same quarter. The profit margin is projected to remain at 38%, half a percentage point below the estimate. In addition to the economic difficulties in China and the effect combined with the tariff battle, he cites a lower pace in the updates of their phones. The Cupertino firm will stop detailing sales by units.

China is the third most important market for Apple. But the cut in the projections is also attributed to other emerging markets. Sales of the iPhone, its flagship product, began to touch roof two years ago in units sold. However, they grew in revenue generated by the high price of new models. The strategy goes in parallel to enhance the services it offers.

The investor's doubts since the last time he presented results are punishing his quote. Apple lost a third of its value from the annual maximum, when it reached a capitalization that approached 1.2 trillion. After the fall of this Wednesday, it is below 700,000 million. Tim Cook, its CEO, ensures that it continues to have a huge value.

Apple is one of the biggest values ​​in the world. He just gave up a month ago Scepter of the largest listed company to its archenemy Microsoft. Amazon and Alphabet follow you very closely. Cook says in the letter addressed to investors that he will not sit idly by waiting for macroeconomic conditions to stabilize. Another reason cited for moderation in the renewal of iPhone models is that mobile operators are granting less subsidies to customers.

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