• About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, July 2, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Slow iPhone Sales Forcing Apple to Grapple With Largest Q3 Revenue Drop Since 2016

August 2, 2023
Stephen M.Cby Stephen M.C
in Technology
0
Slow iPhone Sales Forces Apple to Grapple With Largest Q3 Revenue Drop Since 2016

Analyst posited that Apple (AAPL.O) is likely to report a dip in iPhone sales in the third quarter (April-June) as shoppers held out for a new model in a slow economy, making it important for the company to detail how it is using artificial intelligence to augment growth.

According to Refinitiv, the world’s most valuable firm will wrap up Big Tech earnings tomorrow 3rd August, 2023, with a likely 1.6% drop in total quarterly revenue – its steepest drop in third-quarter revenue since 2016.

IPhone sales likely fell more than 2% in the period, according to 24 analysts polled by Visible Alpha, compared with a near 3% increase a year earlier and a 1.5% rise in the quarter ended March.

RelatedPosts

China’s 6G Breakthrough Signals Bold Leap into Fourth Industrial Revolution

Lab-Grown Sperm And Eggs Could Soon Enable Parents To Design Their Future Children

Intel’s New Laptop Chips to Extend Battery Life

The quarterly report could mark a break from an upbeat earnings season for the likes of Meta Platforms (META.O), Alphabet (GOOGL.O) and Microsoft (MSFT.O) that have shown resilience in their cloud businesses and an uptick in digital ad sales.

“Apple is not immune to general macroeconomic trends and will continue to set the pace (for the smartphone industry) for quite some time,” said Bob O’Donnell, founder of TECHnalysis Research.

With details about the new iPhone 15 expected next month – which could sport the more universally accepted USB-C port on some models – iPhone sales could get a small nudge in the July-September quarter, said analysts, who predicted a mixed bag of results for the period.

Apple traditionally does not provide quarterly outlook, but analysts expected that the company may elaborate how it is using AI to improve its upcoming products.

The company has so far avoided buzzwords like AI at its events, in a contrast with tech giants including Alphabet and Microsoft. Last month, it was reported that Apple has quietly built its own framework to create large language models known as “Ajax”.

“We expect Apple’s updated comments on its AI aspirations to be a focus,” analysts at Well Fargo wrote in a research note, adding that any commentary around the technology could boost the stock.

Apple’s shares have gained more than 50% so far this year, compared with a nearly 37% increase in the tech-heavy Nasdaq Composite (.IXIC).

IPhone Slowdown

Much of the weakness in iPhone sales is expected to come from the Americas, where revenue is set to fall 6%, analysts said. Sales from China – Apple’s third-largest market – are expected to be flat due to an uneven economic recovery, though the company has fared better than Android rivals in the country.

Overall smartphone shipments to China declined 2.1% in the second quarter, according to market research firm International Data Corp.

“Most investors feel a soft China could pose a risk to the numbers and further commentary, but Apple’s position in China is on a solid footing and the company is likely to see only a small, if any, decline in iPhone sales,” Piper Sandler analysts said.

“If there is any sales weakness from China, it is likely to be easily offset by strong sales momentum in India,” they added. Meanwhile, Mac and iPad sales are expected to fall by 10.6% and 11.2% respectively, according to Refinitiv data.

But the services business – home to Apple’s App Store and audio and video streaming services – could be a bright spot thanks to an uptick in the ad market, some analysts said.

The business, which accounts for roughly a quarter of Apple’s total revenue, is expected to grow 5.7% as it also benefits from price increases for iCloud subscriptions, though the pace is broadly similar to that in the preceding three quarters.

READ ALSO: Remarkable Performance By MTN Ghana Drives GSE Index Higher

Tags: Alphabet (GOOGL.O)Apple (AAPL.O)Largest Q3 Revenue DropMeta Platforms (META.O)RefinitivSlow iPhone Sales
Please login to join discussion
Previous Post

Russia Attacks Grain Storage In Odesa Region And Danube Port Of Izmail

Next Post

AfDB Projects Positive Economic Outlook for Ghana and Its Neighboring West African Countries

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.

Related Posts

Communication Minister Engages MTN Over Data Price Glitch and Delays
General News

Communication Minister Engages MTN Over Data Price Glitch and Delays

July 1, 2025
Kepa Arrizabalaga
Uncategorized

Arsenal Signs Kepa from London Rival

July 1, 2025
Hamza Suhuyini Sayibu, President, GBA
General News

Why Hasn’t GBA Sued Over Chief Justice Suspension?

July 1, 2025
President John Dramani Mahama
General News

Mahama Calls for National Unity, Moral Renewal at Muslims’ National Day of Prayer

July 1, 2025
Hubtel Dominates 2025 Digital Innovation Awards with Four Major Wins Celebrating
Banking

Hubtel Dominates 2025 Digital Innovation Awards with Four Major Wins Celebrating

July 1, 2025
Gas Flaring Waste
Extractives/Energy

Nigeria’s Gas Production Dips in May, Fuel Supply Drops to 62% 

July 1, 2025
Communication Minister Engages MTN Over Data Price Glitch and Delays
General News

Communication Minister Engages MTN Over Data Price Glitch and Delays

by Silas Kafui AssemJuly 1, 2025
Kepa Arrizabalaga
Uncategorized

Arsenal Signs Kepa from London Rival

by Evans Junior OwuJuly 1, 2025
Hamza Suhuyini Sayibu, President, GBA
General News

Why Hasn’t GBA Sued Over Chief Justice Suspension?

by Silas Kafui AssemJuly 1, 2025
President John Dramani Mahama
General News

Mahama Calls for National Unity, Moral Renewal at Muslims’ National Day of Prayer

by Evans Junior OwuJuly 1, 2025
Hubtel Dominates 2025 Digital Innovation Awards with Four Major Wins Celebrating
Banking

Hubtel Dominates 2025 Digital Innovation Awards with Four Major Wins Celebrating

by Stephen M.CJuly 1, 2025
Gas Flaring Waste
Extractives/Energy

Nigeria’s Gas Production Dips in May, Fuel Supply Drops to 62% 

by Prince AgyapongJuly 1, 2025
Communication Minister Engages MTN Over Data Price Glitch and Delays
Kepa Arrizabalaga
Hamza Suhuyini Sayibu, President, GBA
President John Dramani Mahama
Hubtel Dominates 2025 Digital Innovation Awards with Four Major Wins Celebrating
Gas Flaring Waste
[/vc_row_inner]

Recent News

  • Communication Minister Engages MTN Over Data Price Glitch and Delays
  • Arsenal Signs Kepa from London Rival
  • Why Hasn’t GBA Sued Over Chief Justice Suspension?
  • Mahama Calls for National Unity, Moral Renewal at Muslims’ National Day of Prayer
  • Hubtel Dominates 2025 Digital Innovation Awards with Four Major Wins Celebrating
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.