Apple Betting on Future Products as Sales Continue to Slump

Apple Betting on Future Products as Sales Continue to Slump

Apple Betting on Future Products , as Sales Continue to Slump.

'The Independent' reports that Apple has warned that the company's sales have fallen and are expected to continue falling.

However, the company's long-term investment in services has offset the decline in sales of products, including the iPhone and iPad.

Apple's prediction of sales continuing to fall for the fourth quarter in a row sent shares tumbling about 2%.

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'The Independent' reports that Apple has yet to get its latest big product into the hands of consumers after announcing the Vision-Pro mixed-reality headset in June.

'The Independent' reports that Apple has yet to get its latest big product into the hands of consumers after announcing the Vision-Pro mixed-reality headset in June.

According to Apple, sales for the third quarter fell 1.4% to reach $81.8 billion, while earnings per share increased 5% to hit $1.26.

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Based on IBES data from Refinitiv, the end results exceeded analyst expectations of $81.69 billion and $1.19 per share.

Weak iPhone sales were offset by not only by the company's services sector which includes Apple TV+, but also sales in China which grew 8% compared to last year.

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There is a real concern about when volume picks up and what the horizon is for iPhone sales growth, Daniel Newman, Chief executive and principal analyst at research firm Futurum Group, via 'The Independent'.

'The Independent' reports that Apple has already invested $22.61 billion in research and development in 2023, more than $3 billion more than at the same time in 2022.

We’ve been doing research across a wide range of AI technologies, including generative AI, for years, Tim Cook, Apple Chief Executive Officer, via Reuters.

We’ve been doing research across a wide range of AI technologies, including generative AI, for years, Tim Cook, Apple Chief Executive Officer, via Reuters.

We’re going to continue investing and innovating and responsibly advancing our products with these technologies to help enrich people’s lives, Tim Cook, Apple Chief Executive Officer, via Reuters