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02 February 2018

Apple results: iPhone sales drop by 1%

Roy Kaitcer, investment manager at Redmayne Bentley, said: “Despite the fall in sales of the iPhone X, Apple has still broken the record for the biggest-ever quarterly profit due to higher prices, with the average iPhone handset selling for $700 - £796. Revenues were up 13% to USD$88.3bn.
 
“Apple has forecast sales of $60bn - $62bn for the next quarter, below Wall Street expectations of $65.7bn. However, Apple’s chief finance officer Luca Maestri’s comments on Apple’s plans to reduce its net cash balance, from $163bn to zero, seems to have eased concerns among investors. The comments have led to speculation that Apple may increase dividend pay-outs or share buybacks as well as stepping up acquisitions, although the precise details will be announced in Apple’s next quarterly update in April.”
 
Please note, our view does not constitute a recommendation to buy or sell shares in Apple. Investments and income arising from them can fall in value and you may lose some or all of the amount you have invested. Past performance and forecasts are not reliable indicators of future results or performance.
 
Apple results: iPhone sales drop by 1%
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