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AAPL Opens at $144, Sliding Nearly 10% After Major Revenue Cut and Down 35% Since Early November
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So many western companies relying to heavily on Chinese growth...lots of companies putting all of their eggs in one basket.
So basically you’re saying Saint Steve had no clue how to pick a CEO. Or groom a management team for when he was no longer there.
Didn't Steve invite Scully?
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Difference back then was that sales were increasing, not falling like sales are now.
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The have a lot but you have stated an incorrect number.
Many people have multiple devices so you could at least half that figure.
I did notice that a lot of the Apple share holders are missing from this thread today...
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So basically you’re saying Saint Steve had no clue how to pick a CEO. Or groom a management team for when he was no longer there.
Do you have a source for this or is if just your opinion? What makes Scott Forstall CEO quality? And why hasn’t he been hired anywhere in an executive position if he was/is CEO material?
So what are the predictions on how Apple will turn things around? Or was it all overvalued to begin with?
My bad. It’s devices not users. And as of February 2018 the figure was 1.3B. Even if only a third of that is active users that’s still over 400 million.
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So why has no one hired Forstall? Why isn’t he CEO of some tech startup? Or working for Google or Microsoft? If he’s a product visionary and CEO material you’d think some tech company would have hired him by now.
Maybe he's made enough money and is just enjoying life now? I'm roughly same age as him, and with the money he's probably made, the last thing on my mind would be working. Especially after cashing in all that apple stock.
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Apple's iPhone problems are just beginning. The sales doldrums will continue when it becomes clear that even among those who are willing to pony up a grand for a new iPhone, there are going to be plenty who can only justify the large outlay by making a bargain with themselves that they'd keep their new phone for a LOT longer than the traditional one year. Apple and its rivals have made a lot of money off that particular tradition, but in their short-sighted race towards the thousand-dollar mark they have managed to make it deader than a fried mule.
AAPL has opened at $144 today on the stock market, with share prices sliding roughly nine percent after Apple lowered its revenue guidance by up to $9 billion for the first quarter of its 2019 fiscal year.
AAPL is down just over 35 percent since closing at $222.22 on November 1, just prior to its last earnings report.
In a letter to shareholders on Wednesday, Apple disclosed that its revenue will be lower than its original guidance for the first quarter of its 2019 fiscal year, coming in at approximately $84 billion. Apple originally guided for revenue of $89 billion to $93 billion in the quarter on November 1.
The letter said lower than anticipated iPhone revenue, primarily in Greater China, accounts for the entire revenue shortfall.
In an internal memo, Apple CEO Tim Cook said he will host an all-hands meeting with employees today at 9:30 a.m. Pacific Time at Apple's Town Hall auditorium on its Infinite Loop campus to answer questions about the shortfall.
AAPL was already dragged down by Apple's recent announcement that it will no longer disclose iPhone, iPad, and Mac unit sales starting with its next quarterly earnings report. The move sparked fears among some investors and analysts that Apple had something to hide, particularly regarding slowing iPhone sales.
Apple yesterday announced that it will report its earnings for the first quarter of its 2019 fiscal year on January 29.
Article Link: AAPL Opens at $144, Sliding Nearly 10% After Major Revenue Cut and Down 35% Since Early November
Look, it's okay for a company to put out a premium product. Nothing wrong with General Motors making both Cadillacs and Chevrolets with cloth seats. What would not be such a bright idea would be for GM to make ONLY Cadillacs, and under Tim Cook that's become the guiding policy for a lot of its products as genuinely entry-level models continue to disappear from the lineup (most recently for the Mac Mini, where the e.-l. version just got bumped up to $800, which is bound to have a chilling effect on school district purchasers, among others). Let's not talk about the Chinese market, which is currently dominating the news coverage. It seems that in India the standard of living is such that nobody can come even close to affording a modern iPhone. So, by declining to offer an equivalent of that stripper Chevvy with the cloth seats, Apple is kissing off an entire subcontinent containing approximately 1. 3 billion potential customers. Exactly how good an idea is that?
Right here we would appear to have evidence for a monumental failure of judgment by Apple's senior leadership. According to my personally-developed Huitzilopotchli Theory of Corporate Dynamics, there come times in the history of every human organization where a human sacrifice becomes necessary, some poor guy needs to be frog-marched up the pyramid to appease the angry gods (ideally but not always necessarily the guy responsible for creating the need). This certainly appears to be one such time. How ya doin', Tim?
Agreed, No one needs a new smartphone every year now that they have matured. Heck, large 4K TV's are cheaper. People don't buy new TV's every year. Same is starting to happen with smartphones. Put majority of your revenue in one product that has now matured, Apple is now feeling the effects. Really not rocket science.
I bought 10 shares of Apple Stock in my IRA today! I plan on selling it at $250 a share! 
Happy new year #2019 fellow MacRumors readers!
Happy new year #2019 fellow MacRumors readers!
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I bought 10 shares of Apple Stock in my IRA today! I plan on selling it at $250 a share!
Happy new year #2019 fellow MacRumors readers!
Good luck !
I'm confident the announcement and sudden release of the 2019 Mac Pro and Cinema Display will fuel investors. I almost said that with a straight face...
Nah, but seriously. Bring back the Mac!
Nah, but seriously. Bring back the Mac!
She is one smart lady who has turned around a dying company as CEO perhaps a big of deja been here before. Good call!
I suspect you are correct. Warren Buffet has lots of Apple Stock and I suspect he is buying more. The best time to buy is when there is blood running in the streets.
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I suspect you are correct since there is a lot of pressure to put women in top jobs. She has made some spectacular Apple Stores.
If only there was a pool of over 7 billion people to choose from outside of Apple's management team, IF ONLY.
She's one of the main proponents of moving Apple higher and higher in price points while making the brand 'luxury' without any regards to tech specs, useability, UX, etc... she would make a terrible tech CEO, basically a new Carly Fiorina.
