Apple shares sink as Xmas sales forecast disappoints investors

Apple unveiled the new iPhone 8 iPhone 8S and iPhone X at its launch event in California last year

Apple sold 46.9 million iPhones in the fiscal fourth quarter, missing analyst expectations of 47.5 million iPhones, according to FactSet.

Apple has revealed record revenue and profits - but admitted it could miss its sales targets for the lucrative holiday season, causing it to briefly lose its historic $1 trillion market cap.

'We are heading in to the holiday quarter with our strongest product lineup ever, ' Cook said on the call.

In the Q4 2018, it sold 46.9 million units, which is almost identical to 46.7 million units sold past year in the same period.

Chief executive Tim Cook said that Apple is "seeing some macroeconomic weakness in some of the emerging markets" such as Turkey, India, Brazil and Russian Federation.

The technology giant's revenue for the last three months was 62.9 billion dollars (£48.4 billion) - up 20% on the same period a year ago - with a profit of 14.1 billion dollars (£10.8 billion). Cook also said foreign exchange rates would have a $2 billion negative impact on Apple's sales forecast.

The sales of Mac also declined; Apple sold 5.3 million units of Macs in the quarter as compared to 5.4 million units sold in the same period a year ago.

"The transparency of the Cupertino story takes a major dent given that tracking iPhone units has become habitual to any investor that has closely followed the Apple story for the last decade plus", Ives said.

Mac unit sales surged 42 per cent from previous quarter.

Which seems pretty accurate as, going off these numbers, staggering amounts of people are more than happy to buy Apple products no matter how much they cost. In a surprise move, the firm announced during its investor earnings call that this will be the last quarter the company breaks out sales of iPhone, iPad and Mac, and will only be reporting total revenues in the future.

The timing for that announcement was curious, but there may have been a grain of truth in Maestri's reasoning: While unit sales were flat for the quarter, the average sale price of an iPhone rose to $793, signaling that consumers are getting more comfortable with spending money for the company's high-end phones.

In an unprecedented move, Apple has made a decision to stop revealing the sales figure of iPhone from the first quarter of fiscal 2019. But more importantly, for the first time they give margin information on Apple's services business, which reached $10 billion in its fiscal fourth quarter, up 17 percent.

While values have staged a recovery of sorts in recent days, Apple's share price remains largely unaffected and is 31% up on the year so far.

Many of Apple's fastest-growing businesses are subscription based, like its $9.99 a month Apple Music service.

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