Apple Sees Sluggish Progress for iPhone Gross sales in First Quarter

Apple raked in $seventy five.9 billion in income within the remaining quarter of 2015, surpassing the document income it set in the identical quarter a yr in the past.

"Our staff delivered Apple’s largest quarter ever, because of the world’s most revolutionary merchandise and all-time report gross sales of iPhone, Apple Watch and Apple TV," Apple CEO Tim Prepare dinner stated within the earnings launch.

The corporate bought seventy four.eight million iPhones within the first quarter, under what analysts anticipated.

Apple’s inventory closed buying and selling on Tuesday at $ninety nine.ninety nine.

Analysts polled by S&P Capital forward of the earnings launch anticipated to see income of $seventy six.596, or $three.34 a share, up barely from $seventy four.599 billion within the fourth quarter a yr in the past.

The corporate’s shares have fallen eleven % since its final incomes report was launched in October amid considerations that iPhone gross sales could be dropping off. These fears have been fanned by a few of Apple’s main suppliers in Asia forecasting decreased revenues for the approaching quarter.

The corporate projected revenues of between $50 and $fifty three billion for the second quarter of 2016.