Apple Skipped Its Profit Forecast For The First Time In A Long Time!

Apple Skipped Its Profit Forecast For The First Time In A Long Time!

Apple, which enjoyed a 1 percent growth in its quarterly revenue, skipped its profit forecast for the first time in a long time. Apple Inc. recorded a 1 percent growth in revenue for the quarter but did not forecast profit for the first time in more than 10 years. This has triggered concerns about his performance this year. Apple's shares were down 2.6 percent. Apple CEO Tim Cook stated that Apple had a 'very depressive' process from the end of March to early April due to the coronavirus epidemic. Cook noted a slight recovery since the second half of April. The company raised its share buybacks by increasing its dividend. Sales, valued at $ 58 billion during the same period last year, rose to $ 58.3 billion in the second quarter of the fiscal year. Earnings of $ 28.96 billion were above expectations, although iPhone earnings fell 7 percent.