Analyst: Apple's revenue in the third quarter of 2023 will fall the most since 2016
CTOnews.com, Aug. 2 (Reuters)-analysts expect Apple to release its results for the third quarter of fiscal 2023 on Thursday, which is likely to be the biggest drop in revenue since 2016. Analysts believe Apple faces a slowdown in iPhone sales, especially in the US and South America, while the Chinese market is "expected to be flat".
Apple's revenue in the third quarter of fiscal 2023 is expected to fall 1.6 per cent year-on-year, while iPhone's revenue will fall 2 per cent, compared with iPhone's 3 per cent growth in the same period last year and 1.5 per cent in the previous quarter, according to the report, citing Refinitiv data. Analysts said the weakness in iPhone sales came mainly from the Americas, where revenues are expected to fall 6 per cent. Apple, on the other hand, is doing relatively well in China, its third-largest market, but revenue is expected to be flat with the same period last year due to an uneven economic recovery.
In addition to iPhone, Apple's Mac and iPad product lines are also under downward pressure, with revenue expected to fall 10.6 per cent and 11.2 per cent, respectively, according to Refinitiv. However, Apple's services business may be able to become a bright landscape, and some analysts believe that due to the recovery of the advertising market and the increase in iCloud subscription prices, Apple's services business will maintain a growth rate of 5.7 per cent, which now accounts for about 1/4 of Apple's total revenue.
In the third quarter of 2016, Apple made a profit of $7.8 billion (CTOnews.com Note: currently about 55.77 billion yuan) and revenue of $42.36 billion, down 27% and 14.6% respectively from a year earlier.
Apple's iPhone 15 series will be released and released in September, and Apple's iPhone sales usually decline before the release of a new iPhone, as consumers wait for new products to arrive. However, these analysts seem to think that this year's decline will be more severe than in previous years.
