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Apple crunched as iPhone's quarterly sales fall for first time

Wed, 27th Apr 2016 06:35

(ShareCast News) - Apple lost a titanic $46bn in market value as its shares fell 8% in after-hours trading as the tech company confirmed the iPhone's first ever quarterly decline in sales and so missed analysts' expectations for sales and earnings.Sales of iPhones sank 16% to 51.2m in the three months to March 26 the first fall since it was launched in 2007, leading to revenues at the world's most valuable company sliding 13% to $50.56bn and profits plummeting 22% to $10.5bn.The company's guidance for the current quarter was that revenue would also fall far short of expectations.Apple chief executive Tim Cook insisted that the global smartphone market had not reached an inflection point but rather tar the slowdown in the smartphone market had stemmed from temporary macroeconomic weakness."This too shall pass," Cook said on an analyst conference call, adding that Apple was confident "that the market, and particularly us, will grow again".The CEO said sales had also suffered as fewer existing customers were upgrading because the iPhone 6 was so popular, and he maintained newcomers to the smartphone market were still choosing Apple in large numbers.And Apple said more Android users switched to iPhones in the six months since October than any previous half-year period.Shares in FTSE 100 semiconductor supplier ARM Holdings, for which Apple is a key customer, could be under the cosh on Wednesday, while other companies with a connection to the US tech colossus include Imagination Technologies and Laird.
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15 Dec 2015 09:09

Imagination Technologies slumps as it warns over full year profit

(ShareCast News) - Imagination Technologies was under pressure after the company said operating profit for the year will be below previous expectations, as it posted a wider first half loss amid a slowdown in the semiconductor market. For the year to the end of October, the group, whose chips are us

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15 Dec 2015 08:34

LONDON MARKET OPEN: Resource Stocks And Supermarkets Lift London

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15 Dec 2015 08:32

Imagination Tech warns on profit as smartphone market softens

LONDON, Dec 15 (Reuters) - Imagination Tech, the British company whose graphics technology powers some Apple devices, warned on profit on Tuesday, saying it had been hit by a slowdown in semiconductor and smartphone markets. The company swung to an operating loss of 7.3 million pounds for

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15 Dec 2015 07:58

Imagination Technologies Warns It Will Not Hit Full Year Expectations

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8 Dec 2015 15:57

Earnings, Trading Statements Calendar - Week Ahead

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27 Nov 2015 09:56

JPM downgrades Imagination Technologies on growth worries

(ShareCast News) - Forecast growth issues for Imagination Technologies have led JP Morgan Cazenove to downgrade the stock to 'neutral' from 'overweight' and reduce its price target to 230p from 275p. The investment bank said there are a number of issues which means the company is facing royalty head

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27 Nov 2015 09:38

BROKER RATINGS SUMMARY: Canaccord Says Buy Charles Stanley

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11 Nov 2015 08:51

Imagination Technologies Picks Guy Millward As New Finance Chief

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27 Oct 2015 13:43

Broker tips: Entertainment One, Pearson, Imagination Technologies

(ShareCast News) - Peel Hunt downgraded Entertainment One to 'hold' from 'buy' and cut the price target to 260p from 340p, as the rights issue is digested by shareholders. The brokerage noted that Entertainment One has increased its exposure to Peppa Pig at a cost of £140m through the purchase of AB

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27 Oct 2015 09:38

BROKER RATINGS SUMMARY: Credit Suisse Downgrades Pearson To Neutral

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28 Sep 2015 10:08

7digital launches high-resolution streaming, announces new contract deals

(ShareCast News) - 7digital has announced it's the first provider to offer hi-resolution FLAC audio streaming through Google Cast. The digital music and radio services company announced Monday it has launched the Google Cast integration into its platform, which allows users to play music from a PC o

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28 Sep 2015 08:47

7digital Integrates Google Cast As It Reports Wider First Half Loss

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17 Sep 2015 08:41

BROKER RATINGS SUMMARY: Kepler Cheuvreux Raises SABMiller To Hold

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16 Sep 2015 09:37

WINNERS & LOSERS SUMMARY: SABMiller Shares Jump 23% On AB-InBev Bid

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16 Sep 2015 08:10

Imagination Technologies tumbles as it forecasts first-half loss

(ShareCast News) - Shares in Imagination Technologies fell sharply after the company said first-half revenue is likely to be lower than it had previously forecast, leading to a loss. The company, which supplies graphics technology to Apple, among others, said the semiconductor sector had a weak June

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