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Archive for 4. Januar 2019

Apple Makes Rare Cut to Sales Guidance

Posted by hkarner - 4. Januar 2019

Date: 03-01-2019
Source: The Wall Street Journal

CEO Tim Cook cites slowing sales in China in letter to investors

Apple Inc. slashed its quarterly revenue forecast for the first time in more than 15 years, an unprecedented move in the Tim Cook era that was prompted by a downturn in sales of iPhones in China.

The surprise cut, issued Wednesday in a letter from the chief executive to investors, renews concerns about waning demand for Apple’s marquee product, the iPhone, which makes up the vast share of its revenue and has vaulted the company’s value and profits. It also raises fresh questions about Apple’s prospects in China, the world’s largest smartphone market, which represents nearly 20% of Apple’s sales.

And it was the latest sign of broader economic malaise in China, fueled by trade tensions with the U.S.

“Lower than anticipated iPhone revenue, primarily in Greater China, accounts for all of our revenue shortfall,” Mr. Cook said in his letter.

The move also was an inauspicious signal for markets on the first trading day of the year, with Apple shares after hours declining more than 7% and the broader market showing stress as well.

The company has lost more than $300 billion in market value since peaking above $1 trillion in early October. Last year was Apple’s worst yearly performance since the financial crisis. Den Rest des Beitrags lesen »

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Synergy and disruption: Ten trends shaping fintech

Posted by hkarner - 4. Januar 2019

By Jeff Galvin, Feng Han, Sarah Hynes, John Qu, Kausik Rajgopal, and Arthur Shek, McKinsey Insights, Dec 2018

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