Apple bruised by weak prospects, total failure of sales of iPhone units, despite a strong fourth quarter

Apple Inc. (AAPL) shares are expected to fall more sharply in more than two years, after the world's largest technology firm reports stronger-than-expected fourth-quarter earnings, but slowing growth in emerging markets and a stronger US dollar probably vacation sales would be far from Wall Street forecasts.

The group also shocked investors by stating that it would no longer provide detailed figures for the sale of its individual products, such as iPhones and Mac computers, thus preventing investors from calculating their average selling price, a key measure used to evaluate the profitability of the company. The decision to remove these forecasts, along with sales forecasts of about $ 91 billion for the December quarter ending December 31, overshadowed the stronger-than-expected September quarter, which posted better earnings. than expected $ 2.91 per share and per group. revenues of $ 62.9 billion.

"Starting in the December quarter, we will no longer provide unit sales data for iPhone, iPad and Mac," said CFO Luca Maestri at a teleconference last Thursday. "As we have said many times, our goal is to create quality products and services that enrich people's lives and provide an unparalleled customer experience so our users are very satisfied, loyal and engaged. "

"As we achieve these goals, we are achieving strong financial results," he added. "As our financial performance shows in recent years, the number of units sold over a 90-day period is not necessarily representative of the underlying strength of our business. "

Apple shares fell 5.4% Friday after normal trading hours, indicating an opening price of $ 210.25 each, the lowest since August 15th and a move that puts the market value of the Cupertino group, Calf. under the $ 1 trillion mark for the first time since she became the first company to surpass this valuation on Aug. 2.

Apple announced it had modified 46.9 million iPhones during the three-month period ended in September, a figure largely in line with analysts' forecasts, but flattered by an average selling price of 793 USD, although higher than expectations, exceeding the USD 751 consensus. increased by 28.3% compared to the same period last year.

The Services business figure, including sales of the App Store, Apple Music, iCloud Storage and Apple Pay, grew by 27% to $ 10 billion. dollars, but slowed compared to the 31% recorded in June, a slowdown that could have been affected by the slowdown in iPhones sales. this reduces the so-called installed base.

"We believe the new iPhones are boosting ASPs, but unit growth is still lacking," said Tim Long of BMO Capital Markets. "We are skeptical about the sustainability of PSA increases as an engine of growth, management will no longer communicate the number of units, and some investors may be disappointed by the lower level of information." provided. "