U.S. big tech company Apple is expected to record its first drop in sales since the first quarter of 2019, economic media CNBC reported on the 30th (local time).
According to a survey of Wall Street analysts by financial information company Refinitiv, Apple’s sales estimate for the fourth quarter of last year was USD 102 billion.
This is a decrease from the same period last year ($123.9 billion), and if the market’s expectations are met, Apple will record its first drop in sales since the first quarter of 2019.
Apple will announce its fourth-quarter earnings on the 2nd of next month.
CNBC reported that the spread of the novel coronavirus infection (COVID-19) in China in the fourth quarter of last year caused disruptions in the production of high-end iPhone models, and analysts also lowered their sales forecasts.
He then diagnosed that the slowdown in the smartphone market due to the possibility of an economic slowdown and cost reduction of consumers and companies also contributed to the pressure on Apple’s sales.
As Apple announced its fourth-quarter earnings last year, its first-quarter earnings outlook, which may be released together, is also drawing attention from Wall Street.
Currently, analysts estimate that Apple’s first-quarter sales will exceed $98 billion, up slightly from the same period last year.
However, CNBC reported that Apple may hint at a slowdown in growth in the first quarter on the basis of weak global consumer sentiment stemming from higher interest rates and reduced household savings.