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Apple will no longer report how many iPhones, iPads, Macs it sells
04 November 2018, 08:18 | Austin Hogan
Image Apple's iPhone sales figures are largely based on the iPhone 8 iPhone 8S and iPhone X because the Xs range only went on sale a month ago
But, he admits it could take a year for investors to embrace it.
"Starting with the [current] quarter, we will no longer be providing unit sales data for iPhone, iPad and Mac", Apple CFO Luca Maestri said during the call. However, the US-based company is now making it harder for people to figure out the exact number of devices it's selling.
Chief Executive Tim Cook said after publishing third quarter results that sales were flat in India in the fourth quarter, which includes a month-long festive season culminating this week in Diwali - a bumper period for electronics sales.
Shares tumbled more than 7 percent after the bell on Thursday, despite the company beating analyst estimates for both earnings and revenue.
Its fourth quarter results, covering the three months to October, showed Apple sold fewer iPhones than analysts had expected - nearly 47 million - but revenues and profits all smashed forecasts. "We were pleased with Mac momentum in emerging markets, with strong growth in Latin America, in India, the Middle East and Africa, and Central and Eastern Europe", the Apple CEO said. Sales of the iPad were down 6% year-on-year while sales of Macs were down by 2%. "We've been in discussions with them, and the discussions are going quite well", he said.
Instead, Apple continues to try to focus investors on the strong sales growth for supplementary services, including Apple Music, Apple Pay and iCloud.
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"Companies typically stop reporting metrics when the metrics are about to turn", said Walter Piecyk from BTIG Research, according to Channel NewsAsia. Like the previous quarter, Apple this time too had just 1% market share.
The tech giant reported underwhelming iPhone sales and gave soft guidance for its crucial holiday quarter, sending shares below the $US207.45 price that was needed to hold the mark. The company is also calling for gross margin of 38% to 38.5%, and operating expenses of about $8 billion.
The new numbers are important for two reasons.
Cook noted that the currency weakness has been part of their challenge in India.
Representational Image: Apple Q4 2018 quarter results: Service revenues record new high.
The X continues to sell well enough that Apple moved roughly the same number of iPhones and made almost 30 percent more. We foresee Apple reaching the high-end of this range, with an estimated $64 billion in iPhone revenue driven by 4% ASP growth, thanks to a favorable mix skewed to the XS/XS Max and LCD-variant XR. It's Services business is the other half of that strategy.
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