Apple Faces Old Question of What’s Next After Record Profit
Apple Crumbles... and Microsoft’s Nokia Hang-up
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Apple Inc., after posting its best fiscal third-quarter profit ever, is facing fresh questions over whether it can keep making hit products.
Even though iPhone sales climbed 35 percent to 47.5 million units in the period that ended in June, the result fell short of the 48.8 million shipments projected by analysts. That, plus a revenue forecast for the current period that missed estimates, triggered the steepest post-earnings drop in Apple’s shares since January 2013, when Chief Executive Officer Tim Cook was under scrutiny over his ability to keep up Apple’s pace of innovation and sales growth.