Apple’s fortunes could be set to wither with analysts predicting the company to announce its first profit fall in 10 years.
What Mobile’s sister publication Mobile News reported that Apple’s profits were expected to fall by up to 20% from a year ago in its second quarter financial results, to be announced later today, according to analysts.
This decline would be the first for the Cupertino manufacturer since 2003, amid speculation that sales of the iPhone have slowed, Mobile News reported.
Charles Russell LLP technology and media specialist Vanessa Barnett said while one could say Apple was in decline thanks to increased competition, it would recover due to fewer patent disputes and new products, saying the decline was a “blip” and not the beginning of the end, Mobile News reported.
Magister Advisors managing director Victor Basta said Apple needed to be more innovative with its devices and develop its software, focussing on micropayments to serve the company’s community of credit card paying customers, Mobile News reported.
The BBC reported that profits are tipped to fall, with Apple’s share price declining as the company saw stiff competition from Samsung.
Apple’s results will be announced at 5:00 p.m, EDT
