OPINION: Needing to calm down Wall Street after a dismal earnings report, Apple executives decided to bring back a forecast of sorts, though more breadcrumbs than hard numbers, writes columnist tpoletti.
After posting its largest revenue decline in more than six years — led by underwhelming iPhone sales — in its fiscal first-quarter earnings report Thursday, Apple once again refused to provide a traditional forecast for the coming quarter or year.
“From our supply-chain point of view, we’re now at a point where production is what we needed to be, and so the problem is behind us,” Cook said during the earnings call, while admitting it’s “very hard” to estimate the ability to recapture lost sales, “because you have to know exactly what would’ve happened.”
The next-most important forecast was for iPhone revenue, which will “accelerate relative to the December quarter” — phrasing that gives Apple a lot of room. IPhone sales declined 8.2% in the holiday quarter, and the phrasing could just as well mean a smaller decline as a gain.
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