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Can Apple begin to turn around this so far no good year?
Thursday May 2, 2024. 05:08 PM , from Mac Daily News
Eric J. Savitz for Barron’s: For the March quarter, analysts tracked by FactSet expect Apple to post revenue of $90.5 billion, down 4.5% from the year-ago quarter. That’s a reversal from 2.1% year-over-year growth in the December 2023 quarter, and would mark the fifth down quarter out of the last six, and the biggest decline since the 5.5% slide in the December 2022 quarter. Analysts expect $1.51 in earnings per share, down a penny from a year earlier. Wall Street consensus estimates as tracked by FactSet call for iPhone revenue to fall 9.8% from a year ago to $46.3 billion, pressured in part by weak demand in China, where the company is losing market share to Huawei and other local competitors. The Street is expecting $6.9 billion in iPad revenue for the quarter, down 11%… Mac sales are projected to fall 4.5%, to $6.8 billion. The consensus view on the wearables, home, and accessories segment calls for revenue of $7.9 billion, down 11%. Services should be the only growth area this quarter, with projected revenue of $23.1 billion, up 10.6%. Support MacDailyNews at no extra cost to you by using this link to shop at Amazon. MacDailyNews Note: Apple’s Q2 report is traditionally when Cupertino provides its annual update to its capital allocation policy. Expect Apple to announce boosts to both its dividend and its stock repurchase (buybacks) program after market close today. We’ll have Apple’s results as soon as they are available right around 1:30pm PDT / 4:30pm EDT – just check our home page: https://macdailynews.com. Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you! Support MacDailyNews at no extra cost to you by using this link to shop at Amazon. The post Can Apple begin to turn around this so far no good year? appeared first on MacDailyNews.
https://macdailynews.com/2024/05/02/can-apple-begin-to-turn-around-this-so-far-no-good-year/
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