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Wednesday, 23 July 2014 10:25

Apple sun setting

Written by Nick Farrell



Tame Apple Press in full spin over bad results

The sun is beginning to set on the glorious Apple Empire which is clearly losing momentum. The Tame Apple press did its best to put some spin on Jobs’ Mob’s quarterly results, but even Reuters had to admit that the fruity cargo cult Apple is slowing down. Yesterday the company posted a smaller-than-expected 6 percent rise in quarterly revenue.

You might not know this from the headlines, which all talked about huge growth in China which surged 28 percent. But Apple has never traditionally done that well in China so a small sales sector increased 28 per cent. Given the hope that Apple placed on its China Mobile deal that should have seen an increase of several hundreds of a percent. Apple flogged 35.2 million iPhones in the June quarter, a rise of about 13 percent that was in line with analysts' projections. But this also killed off the Tame Apple Press’s defence that Apple’s poor results were due to the fact that Apple has a new phone arriving which everyone is waiting for.

Apparently not. Despite a new phone which the press tells us will sell 80 million, Apple forecast revenue of $37 billion to $40 billion this quarter, weak compared with Wall Street's outlook for $40 billion or more. In other words, Apple does not believe the new phone will make that much difference. Some of the dafter analysts have even suggested that Apple will be turned around by entering the wearable device market with the iWatch. Because that market has failed to interest anyone but the sporty. 

Apple reported sales of $37.4 billion in its fiscal third quarter ended June, falling short of Wall Street's expectations for about $38 billion. Sales of iPads, which like smartphones are tanking, at 13.3 million fell a little short of analysts' projections for more than 14 million.

Nick Farrell

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