iPhone Sales to drop in Q1
BusinessInsider.com wrote an article 2 hours ago reporting on information that points to Apple losing iPhones sales in this quarter citing that the pace of innovation has slowed at Apple. Business Insider reports that LG & Hynix who make parts for Apple are also expected to lose as much as 10% of their revenue. In light of the current turmoil in the stock market, shares could drop even further. News that something was wrong at Apple first caught the attention of Reuters when Taiwan-based iPhone assembly plant Foxconn made a unique move during the holidays. Typically Foxconn ramps up production hours nearing holiday season where as staffing was actually cut this year indicating lower production levels. Foxconn missed their revenue goals for December 2015 further proving lower sales expectations on the part of Apple for Q1. If Apple sales fall as much as we anticipate for Q1, it will be the first time in a decade that the iPhone has undersold it’s expectations. Cited by BusinessInsider.com, industry experts say that the most recent iPhone did not have enough new features from the previous model to tempt users, raising concerns that Apple’s streak of innovation is approaching an end.
What is Apple doing?
This week CEO Tim Cook is meeting with Anti-trust chief executives in Europe under speculation that Apple has been operating multiple subsidiaries from Ireland to avoid paying taxes, saving as much as 8-billion dollars. Tim Cook will also be meeting with talented programmers in Italy as well as Pope Francis though the agenda for hte meeting has not been made public. Tim Cook is expected to return to the United States after the weekend.
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