Apple Inc. said Thursday that fourth-quarter sales may come below Wall Street forecasts and its chief executive, Tim Cook, blamed the weakness on emerging markets, exchange-rate costs and uncertainty about whether the manufacturer For iPhone phones can trade the demand for new products.
Apple said it expected revenues of $ 89 billion to $ 93 billion in the first quarter of its fiscal year, which ends in December, while Wall Street's average forecast is $ 93 billion, according to data from Reventive.
In the quarter ended September, Apple posted revenue of $ 62.9 billion, with earnings per share of $ 2.91, exceeding expectations of $ 61.5 billion and $ 2.79 respectively.
Cook said some expectations were explained by Apple's release of the latest iPhone models in the fourth quarter of its fiscal year, adding that foreign exchange rates would have a negative impact of $ 2 billion on Apple's sales forecast, according to Reuters.
Apple is not sure it will be able to manufacture enough new models of iPhones, iPads and Macs launched in the past few weeks, he said.
"Apple sees some macro-economic weakness in some emerging markets," Cook said, but Cook confirmed that Apple was satisfied with its performance in China, with revenues growing 16 percent to $ 11.4 billion in the fourth consecutive quarter of double-digit growth. Region.
When Wall Street closed Thursday, Apple shares were up more than 25 percent from the year-earlier level, supported by Warren Buffett's buy-back and a $ 100 billion buy-back program.
According to data from Apple, Apple sold 46.9 million iPhones in the fourth quarter of its fiscal year, below analysts 'median forecast of 47.5 million, but the average price of selling iPhone phones was $ 793, well above analysts' estimates of $ 750.78.
For fiscal year 2018 ended in September, Apple reported revenues of $ 265.6 billion and a profit of $ 11.91 per share, beating analyst estimates of $ 264 billion and $ 11.79 a share.
