© The Financial Times Ltd 2014 FT and 'Financial Times' are trademarks of The Financial Times Ltd.
Forget the formal estimates: what Wall Street was really hoping for from Apple’s latest quarter was an acceleration in growth that would blow away the “official” forecasts.
The figures released on Monday failed to impress. At 51m, the number of iPhones sold in the quarter came in 2m short of estimates, though the 26m iPads topped most estimates. Within minutes, Apple’s shares had slipped more than 5 per cent.
Read below for our coverage of the earnings report and the company’s analyst call.
Expectations are high that Apple can go back to its old forecast-busting ways when it reports earnings for its December quarter on Monday.
“Investors think that Q1 is going to be a blow-out and the Q2 guide is quite strong,” said analysts at Berenberg in a note after meetings with shareholders last week.
While the iPhone and iPad both look set to turn in double-digit percentage growth rates, falling prices and margins could minimise revenue and earnings growth.
Here’s what to expect after the markets close in New York: Read more
The signs are that a product of unwieldy phone size and ugly monicker is winning at least some admirers. Read more
The world’s most popular smartphone range is finally available to subscribers of the world’s biggest mobile carrier. Yes, the iPhone today went on sale to China Mobile subscribers.
But it does not come cheap. It is not quite Brazil prices (R2,799, or US$1,184 for the 16GB iPhone 5s from the Apple store) but iPhone in China is more expensive than it is in the US, at Rmb 5,288 ($872) versus $649 for the iPhone 5S 16GB. Read more
A new year brings a new perspective on Apple, with Wells Fargo analysts sensing a power shift for the iPhone maker and downgrading it from “Outperform” to “Market Perform”.
The stagecoach sages are turning bearish on worries that gross margins will come under pressure later this year with the iPhone 6, which would require new, more expensive components if the historic trend of a fresh design being introduced is repeated. Read more
Apple, the world’s largest public company by market capitalisation, has a problem. The lawyer appointed to ensure it is not price-fixing e-book sales is just too expensive.
The iPhone and iPad maker complained to the New York court this week that Michael Bromwich’s $1,100 an hour fee is “excessive” and he has not justified it as either “reasonable” or customary”. Read more
Industry watchers scrutinise Apple announcements as hard as a customer might look at its high-resolution Retina displays, trying to see the individual pixels that are supposed to be indistinguishable to the human eye.