Apple faces poor iPhone sales in Q2
Apple revealed its financial results for the first fiscal quarter back in January, and the numbers showed poor sales of iPhones during the 2018 holiday period. Although there are two weeks until the Q2 report is here, analysts predict the trend will continue, and the company has sold no more than 45 million phones, which is more than 10% down on the 52 million amount a year ago.
OTR Global issued a new investor note, saying Apple shipped between 37 million and 42 million iPhones, while Wall Street analysts expect slightly better outcome - 40 to 45 million phones. OTR said the main reason is the weak demand for the XR and XS models. Since Apple decided to stop announcing its number of sold devices, we won't know the exact numbers, but the revenue figure will be very indicative.
The Q2 2019 report will be issued on April 30 and will appear on Apple’s page for press releases. The guidance, provided by the company, suggests revenue between $55 billion and $59 billion, slightly less than the $61 billion, reported for January - March 2018. Gross margin should be between 37% and 38% while operating expenses could be as high as $8.6 billion