Apple Inc. is forecasting a sales decline for the first time in more than a decade, adding to evidence that the market for smartphones is becoming saturated and that expansion in China is no longer enough to maintain the company’s unprecedented run of growth.
It seems incredible to me that they don’t mention that the comps for next quarter are against one that benefited from massive pent-up demand last year because Apple was supply-constrained in the prior quarter. Cook said it will be the toughest comp of the year for them as a result. I guess that fact wasn’t consistent with the story they’d like to tell.
This is why I don’t like to read traditional financial media.
Neil