If that market suffers, so do Apple's financial results. Rising servicesĪpple generates about two-thirds of its revenue from the iPhone, and it's believed the bulk of its profit also comes from the smartphone. But some say Apple could fall short of that estimate. Analysts overall expect revenue of $52 billion, up from $45.4 billion a year ago, according to a poll by Yahoo Finance. Perhaps a bigger concern will be Apple's forecast for the current quarter that ends in June. Samsung also said its own mobile business will struggle in the current quarter that ends in June. Samsung warned demand should remain weak for OLED in the second quarter. Flexible OLED displays let smartphone makers curve the screens of their devices, such as the iPhone X and Galaxy S9. On Wednesday, Samsung, the supplier for the iPhone X OLED screen, said profits in its display business were hurt by slow demand for flexible OLED panels and higher competition between rigid OLED and more traditional LCD displays. It closed Monday at $165.26 and was ticking upward slightly in premarket trading Tuesday.Īpple's iPhone X may not be selling as well as hoped. While that's still a gain, it's not the explosive growth many had previously expected.Īs GBH Insights analyst Daniel Ives put it, "The Street has gone into 'full panic mode'" ahead of the quarterly results and the forecast for the current quarter, which ends in June.Īpple's stock has dropped about 8 percent over the past two months. Overall, analysts believe Apple sold 54 million iPhones in the quarter that ended in March, compared with 50.8 million a year ago. Some even predict iPhone sales could drop for the full year, a big turnaround from their optimism ahead of the iPhone X launch. Many analysts in turn have been cutting their expectations for iPhone sales in the March and June quarters. Over the last week, suppliers such as Samsung, TSMC and SK Hynix have all warned about lower demand - presumably attributed to Apple - and reports have said the California company has reduced production plans for its priciest iPhone.
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