Apple supplier Foxconn cautious despite beating earnings forecasts August 14, 2023 Apple supplier Foxconn beat estimates for second-quarter earnings on Monday thanks to a booming artificial intelligence sector – but the firm retained a cautious outlook for this year due to global economic uncertainties. The world’s largest contract electronics maker downgraded its outlook for full-year revenue to a slight decline from a previous guidance of flat as it [...]
Apple earnings top analysts’ forecasts but year-over-year sales drop again August 4, 2023 Apple made a slightly higher profit last quarter even though sales dipped during the period – a time during which the iPhone maker became the first publicly held company in the US to be valued at 3 trillion dollars. The results released on Thursday covered April to June, the third consecutive quarter that Apple has posted a year-over-year [...]
The 90s called: Flip phones forecast to be worth near $50bn by 2027 as analysts watch for an Apple model August 1, 2023 Foldable smartphones are sparking a renaissance of the iconic flip phone from the 90s, with the market forecast to be worth nearly £50bn in the next four years. According to Expert Market Research, the foldable smartphone market reached almost $16.5bn (£12.8bn) in 2022 and is expected to soar to $60bn (£46.6bn) by 2028. Global foldable [...]
Apple set for a sales dip – but will that hurt its record-high share price? July 30, 2023 Analysts predict that Apple will report a dip in sales on Thursday, but are unsure if this will stop its record-breaking share price surge. It is anticipated the tech giant will report a two per cent year-on-year dip in sales down to $81.7bn (£63.5bn) this third quarter, as consumers cut back or hold of on [...]
UK app developers sue Apple for £785m over alleged App Store monopoly July 25, 2023 UK app developers are suing Apple, alleging that the company’s App Store holds an unfair monopoly. Brought before London’s Competition Appeal Tribunal by competition law expert Sean Ennis, the lawsuit represents over 1,500 mobile app developers who are seeking £785m in damages. Apple charges a 15-30 per cent commission on some payments made through the [...]
Apple halves Vision Pro headset production plans as virtual reality given a reality check July 3, 2023 Apple has slashed production forecasts for its $3,499-a-piece Vision Pro headset as the company experiences teething problems in its foray into virtual reality, according to reports. The tech giant has had to halve 2024 shipments for its mixed-reality headsets with predictions down from 900,000 to 400,000 in the first year, according to a Financial Times [...]
Apple remains world’s most valuable brand June 14, 2023 Apple has once again been crowned the world’s most valuable brand, as the tech giant continues to entice customers despite the cost of living crisis. The American phone and tech maker is valued at $880bn (£698bn), figures from Kantar show, down from £947.1bn (£751.6bn) last year which is reflective of inflation and a tough market. [...]
Apple posts rare revenue drop but $90bn share buyback goes ahead May 5, 2023 Apple once again posted an, until now, rare revenue decline in its latest fiscal quarter, but said its overall business improved from the December quarter and sales of its iPhones were solid. The results were better than Wall Street’s muted expectations and Apple’s stock inched higher in after-hours trading. The latest numbers come after the company in February [...]
Apple and HP PC shipments tumble as pandemic-era boom begins to fade April 10, 2023 Global shipments of PCs have fallen in the first quarter of 2023 as a result of weak demand, high inventory and tough economic conditions, with Apple reporting the largest slump, according to the International Data Corporation (IDC). Shipments of Apple PCs fell by 40.5 per cent to 4.1 million units in the quarter compared to [...]
Apple wins appeal against UK’s decision to investigate its mobile browser April 1, 2023 Apple Inc won its appeal against the decision by Britain’s antitrust regulator to launch an investigation into its mobile browser and cloud gaming services, the Competition Appeal Tribunal (CAT) ruled on Friday. Regulator the Competition and Market Authority (CMA) opened a full investigation in November into the dominance of Apple and Alphabet Inc’s Google in [...]