Apple closes $ 62.9 billion in quarterly sales

Technology generated earnings of $ 2.91 per share, exceeding expectations of $ 2.79 per share

Apple Inc. said Thursday that Christmas quarter sales could exceed Wall Street expectations, which its general manager attributed to weak emerging markets, currency costs and the uncertainty of whether the company can meet the demand for new products. .

The cautious prediction of the iPhone maker sold its shares at 4.2% to $ 212.46 after the close of business Thursday, which wiped out about $ 40 billion of a market value of more than a billion dollars. .

Apple has announced sales between $ 89 and $ 93 billion during its first quarter ended in December, while Wall Street expected an average of $ 93 billion, according to Refinitiv data.

For the quarter ending in September, Apple achieved a turnover of $ 62.9 billion and a profit of $ 2.91 per share, exceeding expectations of $ 61.5 billion and 2 $ 79 per share.

In an interview with Reuters, CEO Tim Cook said that part of the forecast was explained by the launch of its high-end iPhone models, the XS and XS Max, in the fourth quarter. Mr. Cook also said that exchange rates would have a negative impact of $ 2 billion on sales forecasts.

Apple is not sure if it can make enough new iPhones, Apple, iPad and Mac watches that it has launched in recent weeks, Cook told Reuters. The company is expanding the use of its facial recognition unlocking system on iPhone and iPad, which requires special lasers manufactured by a few vendors.

Cook said Apple "sees some macroeconomic weakness in some emerging markets," without specifying which ones. However, he stressed that the company was satisfied with its performance in China, where its revenues increased by 16% to 11,400 million dollars.

Apple's cautious projection could strengthen investors' fears, which erased year-on-year gains in the stock markets. The company's shares have risen more than 25% since the beginning of the year, thanks to Warren Buffett's purchases and a securities buyback program.

According to FactSet, Apple sold 46.9 million iPhones in the fourth quarter, which did not meet the expectations of analysts: 47.5 million. But the average price of iPhones was $ 793, well above analysts' estimates of $ 750.78.

For the full fiscal year that ended in September 2018, Apple recorded a turnover of 265.6 billion USD and a profit of 11.91 USD per share, exceeding analysts' estimates estimated at USD 264 billion and USD 11.79 per share.

Source: Reuters