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Bloomberg Predicts Sales Decline For iPhone 7

Bloomberg Predicts Sales Decline For iPhone 7

Investors are anxiously awaiting Apple Inc. (NASDAQ: AAPL)'s fourth-quarter earnings results, which will be released shortly after Tuesday's market close.


According to a Bloomberg report, Apple's results should show strong early demand for the iPhone 7, which will help slow down the pace of sales declines seen in the prior quarter.

Related Link: Cramer: Apple's Declining Revenue Is Bullish For Apple's Stock

Apple's revenue is expected to dip for the third consecutive quarter by 9 percent, marking an improvement from the 15 percent decline in the previous earnings. The company is also expected to show that it sold a total of 45 million iPhone units.

Related Link: Cramer: Apple's Declining Revenue Is Bullish For Apple's Stock

Apple likely benefited from an earlier than usual launch of the new iPhone 7 and 7 Plus. However, the company's woes in China and smartphone saturation in many parts of the world could counter the extra week of selling the new iPhone model.

Bloomberg quoted Gene Munster, an analyst at Piper Jaffray, who said in a research note that Apple will likely guide that "iPhone 7 is off to a good start, but supply remains constrained."

Tim Arcuri, an analyst at Cowen & Co, offered his take in a research note to clients and said that the iPhone 7 is "proving an effective ‘bridge' to the iPhone 10 super-cycle in 2017, where a powder keg of a dramatically aging installed base lurks just under the surface."

At last check in Tuesday's pre-market, Apple was up 0.32 percent at $118.03.

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Latest Ratings for AAPL

Aug 2020Wells FargoMaintainsOverweight
Aug 2020B of A SecuritiesDowngradesBuyNeutral
Jul 2020CascendMaintainsBuy

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