“Apple Inc. shares slumped again Tuesday following a report that the tech giant is considering promotional tactics such as promotional discounts and trade-ins to boost iPhone sales over the key holiday shopping period,” Martin Baccardax reports for TheStreet.
“Bloomberg reported Tuesday that Apple reshuffled some of its global marketing staff in October in order to address disappointing iPhone sales, just weeks after a new suite of models, including the XS and the XR, was launched in late September,” Baccardax reports. “Apple shares were marked 2.28% lower at the opening bell Tuesday and changing hands at $180.61 each, a move that takes the decline from its October 3 peak to around 22% and values the Cupertino, Calif.-based group at just over $858 billion.”
“The reports come in the wake of a decision by Apple to no longer provide detailed numbers for the sale of it individual products, such as iPhones and Mac computers,” Baccardax reports. “The decision to scrap that guidance, as well as forecasts for December quarter sales of around $91 billion over the three months ending in December, overshadowed a stronger-than-expected September quarter which saw better-than-expected earnings of $2.91 per share and group revenues of $62.9 billion, and sent shares tumbling to their biggest single-day decline since 2014.”
Read more in the full article here.
MacDailyNews Take: Mission accomplished. Well, actually, can the naysayers, bears, and shorts talk it down to $170 again? Sub $170, even? We might as well maximize profits.
SEE ALSO:
Apple reassigns some marketing staff, tries promos and trade-in deals to spur iPhone sales – December 4, 2018
Apple VP: iPhone XR has been company’s best-selling model every day since it launched – November 28, 2018
Steve Jobs’ technology pipeline has been exhausted by Timmy.
And in some cases, Steve’s technology has been decimated by neglect (Mac Pro) and destruction.
No new new thing.
Steve did not invent any technology..
Apple did
For those who down vote this … please be kind enough to let me know what technology Steve has invented himself.
Thanks
Perhaps you should learn for yourself how to search the US Patent Office database. It’s free and you will soon learn exactly what Jobs invented himself. Don’t make others do your own homework
Wrong..
I have.. probably more than you.
His name may be attached to some ideas.. but he has not invented a single technology ! His employees and partners have.
Those who think he was a technical person Live in lala land!
True, he was more the final arbiter as to what Apple would actually release as well as set high goals for the company to strive towards. It seems with TC that ‘fire’ is now embers.
PS.. they still do.
Panic centric people confuse everything,
more Bloomberg manipulation
Ignored by bloombug ,
https://appleinsider.com/articles/18/12/04/apples-largest-supplier-reported-24-percent-surge-in-revenues-from-oled-display-components-sales
Interesting article. Perhaps the extrapolations/assumptions made in it did not match up with information from several other sources bloomberg might be using to do their analysis.
By withholding specific iPhone sales figures, the company is even more vulnerable to shady analyst manipulation.
This^^^. Absolutely this. By holding back real data, Pipeline has completely surrendered to the analysts.
For a short while… earnings reports, revenue and profit distribution are what matter. .. and if apple delivers there..focus on unit numbers will fade .
Looking at just revenues without how large a base it results from makes it difficult to determine how influential each ‘unit’/consumer is towards that total. Any losses from a small group would make a much larger impact to Apple’s bottom line. Hiding unit sales simply encourages fear that Apple’s user base for their Services going forward is not as robust as Apple says it is.
Well , my understanding is that Apple will report revenue per product group , ( phone, tablets, services,..etc) but not unit numbers.
They will also report gross margins per group.
In my recolection they did not say they wont report on their user base numbers.
On Last CC..Tim said was its growing in double digits..
And they have aprix 1,3 billion users
There is enough to know whats going on imo.
To me at the end of the the day it boils down to revenue distribution and profits.
If they deliver there.. while introducing new products and services as well.. some( hopefuly most ) of the panic should fade away..
Market hates change and it takes time to adjudt/adapt
Ps im not sure what you mean by:
“Any losses from a small group would make a much larger impact to Apple’s bottom line.”
Apples buisness model has not changed at all.( just what they will report).. .. any groups contribuition will be what it will be/would have been … the reporting aspect does not change that.
By not reporting unit numbers, it may be hiding a trend towards shrinkage of the usage base. Less users that each spend more may show an increase in revenue going forward but it also means that each one of those users will have a larger impact on Apple’s bottom line should they decide to leave the ecosystem or pass away.
I hear u…
as long as usre base grows that should not be a big concern then .. right?
And my understanding is they wont hide user base growth and numbers. .
Time shall tell.
Apple isn’t going to hide user base numbers. Those numbers will continue to grow. But, and it is an important but, unit sales growth of iPhone will slow. It has to slow. Unless you think most of the people in the world will own an iPhone. The growth rate HAS to slow down quite a bit. But the user base will continue to grow. Apple is very rightly and smartly helping analysts change how they think about Apple’s business. Hint: it was never about unit sales.
I remember Apple in the 1990’s, prior to Steve’s return; they had an overabundance of Macintosh models that caused buyer confusion. Is Apple making that mistake again with all the iPhone models they are offering?
Yes the iPhone lineup is a mess. Mac lineup even worse. There are no budget conscious beginners models. There are no super powerful machines. Everything is 20% overpriced or more. That’s even before Apple starts nickel and diming customers with absurdly priced RAM, dongles, and endless adapters.
Apple could have spent its massive resources engineering complete product families, produced more cost effectively with vertical integration, with legacy features and connections that people need built in over the transition to new stuff. Instead Timmy offers emojis and dark mode.
Sorry, you can’t plug your iPhone into any new USB-C Mac without buying a 3rd party adapter. Apple geniuses didn’t think about that. This is why Apple users are massively losing faith in Timmy’s greedy company. It doesn’t listen to users at all.
A bitter medicine for Apple, but they needed it.
Yet AGAIN investors are absolutely b!tschslapping AAPL. Getting pummeled beyond belief.
Week after week after week.
I laugh hard at MD’s take. No one is making money buying Apple now.
I bought on the dip from $230 to $220. You can’t lose it was said.
I bought more when AAPL hit $195. A rebound was right around the corner!
I bought one last time when AAPL hit $185.
Down, down, down, down.
Investors have left Apple in droves.
Institutions have left Apple in droves.
Now over 100 million shares have been dumped into the market.
Lots and lots of bag holders now for those who were not smart enough to sell when $232 was hit.
Pipeline’s stock buy backs have had NO positive effect at all.
Pipeline’s stock buy backs have been utterly run over by the masses dumping Apple shares.
Across the board, Pipeline’s Apple has been failing.
Apple makes BILLIONS of dollars living off of Steve Jobs genius, not Pipeline’s.
Phil Shiller brings nothing to the table.
Eddy Fucking Cue brings nothing to the table.
Pipeline sits at his desk, blank eyed, slack joweled, watching the value of Apple plunge for weeks.
And there’s nothing he can do about it.
Go ahead fools, buy AAPL now.
Some investors may be looking for any news about what Warren Buffet is doing with AAPL now. Buy more shares? Big sell off?
I bought 1,000 shares of AAPL in late 2004 at around $4.50 because I was hearing rumors of them moving to an Intel processor. Added to it as time went by and so far it’s bought me a nice RV, a summer cottage on a lake and more than a few toys. Apple has been berry berry good to me but watching AAPL is like watching a good friend have a prolonged stroke. I Just sold my last shares a month ago. Been a good ride. Looking for the next Apple stock. Cannabis maybe?
Mdn.. you should change your name to Mdp
Mac daily panic ..
Given the attitude of the participants here.
PS.. MDP will also be very befitting given how all the politically natured articles are swarmed here.
Mac Daily Politics and Panic.
They don’t seem to have noticed that the markets as a whole have gone down. I don’t think Tim Cook singlehandedly drove the DJIA down over 3% today, or Nasdaq down by almost 4%. The big losers were companies with exposure in China; Boeing went down farther than APPL. The only exchange in the world that is up—and significantly so—is the Hang Seng.
told everyone it was Apple that led the market down. applecynic can’t be wrong. I won’t believe it! What’s the tag for sarcasm? 🙂
/s 😉
Amazon and Goog are more down than Apple !
Tim even managed to drop amzn and goog…lol