One by one the pillars of the recovery are toppling. Last year the Chinese infrastructure party ended and the shale oil boom went bust. More recently the FANG stocks went from pulling the market up to pushing it down. And today Apple – whose sales would always go up because everyone on Earth wants an iPhone and there were still some people in Africa and the Amazon Basin who don’t yet have one – reported that not only is its revenue no longer growing, but it might shrink in the year ahead.
Apple off 2.2% after hours on no-growth worry
(USA Today) – Apple investors had plenty of warning the high-flying stock was about to slow. They just got proof.
Apple’s revenue missed expectations in the just-reported fourth quarter, and the gadget maker is warning it could post the first drop in revenue since the 2009 recession in the current, first calendar quarter.
There are already signs of a slowdown. Apple reported quarterly revenue of $75.9 billion, which missed expectations, inching up just 1.7% from the same period a year ago. That was Apple’s lowest revenue growth since the June quarter of 2013, says S&P Capital IQ, when revenue rose 0.9%. Analysts were looking for revenue of $76.5 billion.
This post was published at DollarCollapse on January 27, 2016.