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 | 3581 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
Mozilla is Recruiting Beta Testers for the iOS Version of Firefox
Mozilla is getting closer to releasing Firefo...
Geek Watch App Turns Your Apple Watch Into a Casio Calculator Watch
Geek Watch is a new app that turns your Apple...
Facebook Messenger Gets 'Caller ID for Messaging'
Facebook has announced that it's rolling out ...
Apple Starts Shipping the Gold Apple Watch Edition
Apple has started shipping the gold Apple Wat...
Steve Jobs and Steve Wozniak Recall the Early Days at Apple [Video]
Check out this rarely seen video clip of Stev...