Nov 21, 2018
What's biting Apple?
Apple was once the, well, apple of Wall Street's eye. The number of products Apple shifted was relatively flat in its most recent quarter and the firm's forecast of 0-5% year-on-year revenue growth for the holiday season - typically a time when families stock up on the latest gadgets - disappointed investors, triggering a steep market sell-off. In recent years, Apple has responded to a slowdown in smart phone sales by raising prices - a move that has helped the company enjoy record revenues, even while the industry generally contracts. Apple has identified its services business - which includes items such as ApplePay, Apple Music and the App store - as the next big growth driver. Apple reflects broader market concerns - like US-China trade tensions.
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