Apple Holiday Forecast Disappoints Given Samsung’s Troubles
- Investors expected a more optimistic forecast for iPhone sales
- Shares decline in extended trading after earnings report
How Much Will Apple Benefit From the Samsung Recall?
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Apple Inc. investors expected the iPhone maker to take advantage of Samsung Electronics Co.’s weakness in the smartphone market and issue a robust holiday sales forecast. After the revenue projection was barely higher than analysts’ estimates, shares fell as much as 4.2 percent Wednesday.
“There was expectation for better guidance in the context that Samsung isn’t doing so well and these guys should be winning market share,” said Abhey Lamba, an analyst at Mizuho Securities in San Francisco.