Global  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

AAPL Stock Recoups Losses Incurred After Tim Cook Slashed Apple's Revenue Guidance

MacRumours.com Friday, 18 January 2019
AAPL shares are currently trading above the $157 mark on the intraday market, recouping virtually all losses incurred since Apple CEO Tim Cook slashed Apple's revenue guidance by up to $9 billion for the first quarter of its 2019 fiscal year.
AAPL closed at $157.92 on January 2, immediately prior to Cook revealing the shortfall in an after-hours letter to shareholders, and is now trading just cents below that level. The stock has gradually recovered over the past two weeks since establishing a new 52-week low of $142 on January 3.


Apple share price now returned to level before Tim Cook’s letter to investors.

— Horace Dediu (@asymco) January 18, 2019Apple originally guided for revenue of between $89 billion and $93 billion in the three-month period ending in December, but revised its estimate to $84 billion due to "fewer iPhone upgrades" than it anticipated, primarily due to "significantly greater" economic weakness than it projected in the Greater China region.

The letter sparked concerns among some investors and analysts that Apple has reached "peak iPhone," especially given Apple's revelation that it will no longer disclose unit sales in its quarterly earnings reports going forward.

While the iPhone accounts for around two-thirds of Apple's revenue, the company has repeatedly touted the continued growth of its services, including the App Store, Apple Music, iCloud, iTunes, and so forth, which combined for a nearly 19 percent increase in revenue on a year-over-year basis in the quarter.

Apple is widely expected to launch a streaming TV service this year that will likely boost the revenue of that category even further.

In his letter to shareholders, Cook said Apple is undertaking and accelerating multiple initiatives to improve its results, including making it simple to trade in a phone at its stores. Back in November, Apple launched a promotion offering up to $100 in extra trade-in credit towards a new iPhone XR or iPhone XS.

AAPL will report its earnings for the first quarter of fiscal 2019 on January 29, followed by a conference call to discuss the results at 2 p.m. Pacific Time.Tag: AAPL

This article, "AAPL Stock Recoups Losses Incurred After Tim Cook Slashed Apple's Revenue Guidance" first appeared on MacRumors.com

Discuss this article in our forums
0
shares
ShareTweetSavePostSend
 

You Might Like


Recent related videos from verified sources

Apple's New Streaming Service [Video]Apple's New Streaming Service

On Monday, tech giant Apple's CEO Tim Cook took the stage at the Steve Jobs theater to share the much-anticipated news about the new Apple service, called Apple TV+, an ad free streaming service set to..

Credit: Rumble     Duration: 00:45Published

Everything You Should Know About Apple's Big Entertainment Services Event | THR News [Video]Everything You Should Know About Apple's Big Entertainment Services Event | THR News

With the help of stars like Oprah, Apple CEO Tim Cook lifted the curtain on several new subscription products including Apple TV+ and Apple News+.

Credit: The Hollywood Reporter     Duration: 02:13Published

Apple Jumps Into Streaming, Gaming, Banking and Hollywood [Video]Apple Jumps Into Streaming, Gaming, Banking and Hollywood

Apple announced Monday that in addition to launching a streaming service, it plans to create original films, TV shows, games and a credit card.

Credit: Newsy Studio     Duration: 02:14Published

Apple Announced Apple Arcade, Apple TV+, and Apple News+ at Its Live Event Today [Video]Apple Announced Apple Arcade, Apple TV+, and Apple News+ at Its Live Event Today

Whenever Apple makes an announcement, the news is always big. After a month of new drops—including upgraded AirPods with a wireless charging case and new, long-awaited iPad Mini—Apple held a live..

Credit: Esquire     Duration: 02:35Published


Recent related news from verified sources

Here are all the major publishers in Apple's new subscription service, Apple News+

Here are all the major publishers in Apple's new subscription service, Apple News+
Apple today announced a news bundle called Apple News+ that will give subscribers access to more than 300 publications for a flat rate of $9.99 a month. CEO Tim...
Business Insider Also reported by •The Verge

Say hello to this photo of Tim Cook writing on an iPad that was made to be meme'd

Hello, Mr. Apple. Nice to see you back in the meme circuit again. If you've been missing Tim Cook since the Tim Apple meme died down a bit, you're in luck....
Mashable Also reported by •The Next Web

Other recent news in Computer Industry

The APPLE TV+ video streaming service: 8 burning questionsApple Pay Cash disallowing person-to-person credit card payments, other than with the APPLE CARD
AirPower Pictured on Retail Box for AIRPODS WIRELESS Charging CaseEverything APPLE ANNOUNCED at Today's 'It's Show Time' Event in 6 Minutes
Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.