Apple shows record-breaking results for Q4 of the fiscal 2018

Alfred Osborne
November 5, 2018

The Silicon Valley tech giant Apple has faced a sharp downturn in stock price, losing its coveted $1 trillion valuation following the release of their fourth-quarter earnings report.

A revenue forecast that fell short of the average analyst estimate at the midpoint and weaker-than-expected iPhone sales sent the stock tumbling in extended trading.

CEO Tim Cook said: "We're thrilled to report another record-breaking quarter.in which we shipped our two-billionth iOS device, celebrated the 10th anniversary of the App Store and achieved the strongest revenue and earnings in Apple's history".

As demonstrated by our financial performance in recent years, the number of units sold in any 90-day period is not necessarily representative of the underlying strength of our business.

Apple Inc. said it's facing pressure in emerging markets, including India, due to the currency weakness that led to a rise in prices of its products. In third place on the revenue chart come the Mac computers, bringing in a decent $7.41 billion from 5.3 million units sold, while 9.7 million iPads chipped in with a "mere" $4 billion.

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Analyst Walter Piecyk from BTIG Research said that it was typical for companies whose figures are about to go tits up to stop reporting metrics. "Furthermore, our unit of sale is less relevant for us today than it was in the past, given the breadth of our portfolio and the wider sales price dispersion within any given product line".

Shares hit $209.20, down from $232 at the start of October, even after Cook reassured investors that Apple's popularity in China remained strong, in the face of a strong USA and China trade war. The iPhone XS costs £999 while the larger-screened XS Max is £1,099. The nearly $10 billion revenue is another record figure for the category and is expected to increase more as Apple pours in more efforts in offerings such as digital content and payments.

The firm said net profit climbed 32 percent to $14.13 billion on revenue that was up 20 percent to $62.9 billion with help from growing sales of digital content and services to users and other Apple gadgetry.

The iPhone growth is slowing down, but that hasn't affected Apple's revenue so far. If you're wondering "Why fourth quarter?", it's because the fiscal 2018 ends three months earlier than the calendar 2018. Its services arm, for example, which includes iCloud and Apple Music subscriptions, had a turnover of close to $10bn in the period.

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