Share of apple (Nasdaq stock code: AAPL) After the technology giant Titan released its fourth-quarter earnings report, the stock price fell more than 5% after the market closed on Thursday.
Apple’s revenue increased by 1% year-on-year to $64.7 billion. During the coronavirus crisis, as more and more people work and study from home, sales of Apple Macs and iPads increased by 29% and 46%, respectively. “From distance learning to home office, as the pandemic continues, Apple products have become users’ windows to the world. Our team has met the needs of this moment with creativity, passion and various big ideas that only Apple can provide. . Delivery,” CEO Tim Cook said in a press release.
However, iPhone sales fell by more than 20% to $26.44 billion. This is lower than Wall Street’s estimate of $27.93 billion. In addition, Apple’s refusal to provide guidance for the first quarter of fiscal 2021 has disappointed investors who hoped that management would understand the company’s new sales expectations for the company’s new 5G-enabled iPhone.
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In an interview with CNBC, Cook said that the rise in the number of COVID-19 cases and the overall economic uncertainty associated with the pandemic have made it difficult to provide accurate guidance. But Cook did say that the release of the iPhone 12 “is indeed very good initial data points.”
“Despite the continuing impact of COVID-19, Apple is still in the richest product launch period in our history, and driven by our lineup of the first iPhone with 5G capabilities, the early response to all our new products Very positive,” Cook said.