Apple's Quarterly Profit Projected to Shrink for the First Time in 10 Years

Posted April 22, 2013 at 5:19pm by iClarified | Please help us and submit a translation by clicking here | 3615 views

Apple's quarterly profit is projected to shrink for the first time in 10 years, according to Bloomberg.

Fourteen analysts have reduced their estimates for Apple in the past four weeks, as shares in the world’s most valuable technology company continue their slide from a September record high. Competition from Samsung Electronics Co. is also weighing on the stock, and pressure is mounting for Chief Executive Officer Tim Cook to introduce hit products to reignite sales.

Analyst estimates compiled by Bloomberg predict that Apple will see a reduction of fiscal second quarter net income by 18% to $9.53 billion or $10.02 a share. Revenue is projected to increase 8% to $42.4 billion which for Apple is its slowest growth rate since 2009.

It's suggested that Apple could increase its dividend or boost share buybacks to appease investors. Bloomberg estimates a 17% increase in its current quarterly dividend to about $3.10 a share.

Apple will announce earnings tomorrow.

Read More




Share
Add Comment
Follow iClarified
Apple to Bring Back Home Sharing for Music With iOS 9
Apple plans to bring back Home Sharing for mu...
Instagram Improves the Resolution of Photo Uploads to 1080x1080
Instagram has announced that it's improving t...
Apple Redesigns Packaging of Third Party Accessories Sold in Its Retail Stores
Leaked Schematic Reveals Slightly Thicker iPhone 6s? [Image]
A leaked schematic of the iPhone 6s allegedly...
RunKeeper App for iPhone Gets Updated With Prescriptive Workouts, RunKeeper DJ