Apple Boosted by iPhone 7 Demand, Slowing Pace of Sales Decline
- Breaking with past, Apple skipped first weekend sales report
- Company likely to report first annual revenue drop since 2001
The Numbers Don't Lie: Digging Into Apple
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Apple Inc.’s fourth-quarter results were bolstered by robust early demand for the iPhone 7, analysts predicted, helping slow the pace of a sales slump for the world’s most valuable company.
After releasing a new version of its bestselling device in September, Apple likely sold 45 million units of all types of iPhones in the most-recent fiscal quarter ending Sept. 24, according to Wall Street estimates. Revenue probably slipped for a third straight quarter, by 9 percent, though that’s smaller than the 15 percent decline in the preceding period, forecasts indicate.