Apple shares fell nearly 5% in premarket trading after the world’s most valuable public company reported a dropoff in iPhone sales in China, affected by the delay of its new model due to the COVID-19 pandemic, accompanied by all-time record quarterly revenue.
Customers put off buying new devices in the second half of September, leading the company to report its steepest quarterly drop in iPhone sales in at least three years.
MacDailyNews Take: Shocker. Customers put off buying new iPhones in the second half of September every year. This year, due to COVID-19 delays, there were no new iPhone sales at all in the quarter. But, they’ll be in the next, blockbuster quarter, that’s for sure.
Macs, iPads and services businesses helped the company beat estimates and register its biggest fourth quarter… However, the company did not provide a specific forecast for the crucial holiday shopping quarter, disappointing some investors.
MacDailyNews Take: There’s no guidance because of something called COVID-19. Perhaps you’ve heard of it, unlike “some investors?” (So-called investors.)
Apple yesterday reported all-time record September quarter revenue of $64.7 billion — that’s in just 3 summer months (when everybody on the planet knows new iPhones are coming next quarter) — during a pandemic!
Those waiting with cash to invest know what to do.