Apple Will Stop Reporting iPhone Unit Sales; Forecast Underwhelms

Apple plans to make Face ID even better

The disclosure is weighing on Apple's stock despite strong fourth-quarter results that saw the company report record quarterly revenue and earnings per share.

But shares were trading down 5% after-hours after it forecast $89bn-$92bn of revenue in the current October-December quarter though analysts questioned whether Apple was being deliberately cautious in its guidance.

"The elimination of reporting unit metrics for iPhone, iPad, and Mac is significant - the Street obsesses over them", Gene Munster, an analyst with Loup Ventures, wrote in a note Friday.

It posted sales of $88.3bn in the quarter past year.

In the quarter, Apple sold 46.9 million iPhones versus analysts' expectations of 48.4 million handsets.

"Sales are set to drop for the first time in four years", Shah said. Global sales made up 61 per cent of the total number.

"Together with Apple, Salesforce is redesigning its apps to embrace a native mobile platform with exclusive new features on iOS", he said.

The company was criticized for its decision to no longer disclose iPhone related sales figures, implying that the company now believes that iPhone sales have peaked.

Pound jumps against dollar on report of Brexit banks deal breakthrough
The BoE said policymakers would need to balance the hit to growth from lost trade, uncertainty and tighter financial conditions. Do not assume that interest rates will be slashed if there is a "no-deal" Brexit, the Bank of England today warns households.

Signaling that its the era of unit sales growth has come to an end, Apple this week said that it would be much less transparent about device sales.

Representational Image: Apple Q4 2018 quarter results: Service revenues record new high. As we talked about a few days ago, the Services segment of Apple's business has seen a tremendous growth over the last year and has reached $10 billion in revenue, more than a 25% increase year-on-year.

Revenue was up 20% on a year ago at $62bn while profits rose 41%.

Apple Chief Financial Officer Luca Maestri said Thursday on a conference call with financial analysts that the company will no longer offer unit sales data for iPhones, iPads and Macs starting in the next quarter.

Cook also touted the App Store, which he says is the "safest" place to get apps; Apple, he says, reviews all apps in it and guarantees users don't have to share a tonne of data with lots of companies.

Apple has been placing a greater emphasis this year on growing services revenue - non-device sales - rather than relying on iPhones to drive profits.

The Silicon Valley tech giant Apple has faced a sharp downturn in stock price, losing its coveted $1 trillion valuation following the release of their fourth-quarter earnings report.

"Judging by the sales numbers that does seem likely but when your average selling price rises to $793 a unit, due to the launch of higher spec and thus higher priced products, who really cares?"

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