The iFruit company is testing Wall Street’s patience with its slowing iPhone and iPad sales.
Shares of the world’s most valuable company have sunk more than 5 percent this year and investors will take cues on the stock’s future direction from a quarterly report today. Yet even with Apple set to get a boost from a new partnership to sell iPhones through China’s largest wireless carrier, revenue is projected to be flat for the first time in at least a decade, according to data compiled by Bloomberg. Profit is also estimated to decline 5 percent, making it the sixth consecutive period with little to no gains.
The slowdown -- driven by stalling iPhone and iPad sales amid a more competitive and saturated mobile-device market -- is spurring ever-louder criticism from analysts and investors that Apple lacks the breakthrough ideas it once had when co-founder Steve Jobs was in charge. The company’s shares are off 24 percent from their September 2012 all-time high.
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The AAPL share price is 5% down this year and after evaluating the investors should think at least for once before investing. Lets see either doing business with china apple will get benefit or not?
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