Apple Inc. (AAPL) Q1 2016 Earnings Preview: iPhone Sales May Post First Year-Over-Year Decline
The following is an excerpt from Luke Villapaz | January 25, 2016 | ibtimes.com |
Wall Street is bracing itself for Apple Inc.'s (Nasdaq:AAPL) holiday quarter results, to be unveiled Tuesday after market close. While the holidays are generally the biggest period for the tech titan, investors will be looking closely at how many iPhones were sold during the period and whether there’s any juice left in the flagship handset.
Since the iPhone’s launch in 2007, Apple has broken its year-over-year smartphone sales record every year. But this time around there's concern that Apple may barely clear the high bar it set for itself or miss it entirely. Suppliers have noted cutbacks in iPhone 6S orders, and analysts' views of iPhone 6S sales through 2016 have been weak overall.
For the three months ended Dec. 26, Wall Street is looking for Apple to have hit a target 76.5 million units, according to consensus estimates from analysts polled by Fortune. That compares to the 74.5 million units sold during the same period last year.
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