Apple nasdaq Aapl Stock Slips Amid Concerns over Weaker Q2 Sales Forecast

Apple (NASDAQ: AAPL) Stock Slips Amid Concerns Over Weaker Q2 Sales Forecast

Apple (NASDAQ: AAPL) shares dipped after the tech giant issued a weaker-than-expected sales forecast for the March quarter.

Apple (AAPL) has reported stronger-than-expected results for the December quarter but has left investors concerned with its guidance for the current quarter.

The tech giant recorded a 16% year-over-year increase in earnings, reaching $2.18 per share. Sales also grew by 2% to $119.6 billion. Apple attributes this success to robust sales of the iPhone 15 and growth in services. However, the company faced a challenge in China, where sales dropped by almost 13% due to increased competition from local smartphone makers.

Looking ahead, Apple guided for the current quarter, anticipating sales of around $90 billion, a 5% decrease compared to the last year. Chief Financial Officer Luca Maestri clarified that if we exclude last year’s delayed iPhone orders caused by Covid-related factory shutdowns, sales would remain flat compared to the previous year.

In addition, Apple has officially launched its Apple Vision Pro spatial computer, following a two-week pre-order period. Priced at $3,499, the mixed-reality headset is currently limited to the U.S. market but is expected to expand to other countries later in the year.

Apple recently revealed that over 600 apps have been developed exclusively for the Apple Vision Pro. These include video games and applications spanning productivity, communication, and entertainment.

On a conference call with analysts, Apple executives highlighted the device’s enterprise applications, with notable companies like Bloomberg, Nike, SAP, Stryker, Vanguard, and Walmart utilizing the Apple Vision Pro to deliver innovative spatial computing experiences to their customers and employees.

Maestri expressed enthusiasm, stating,

“From everyday productivity to collaborative product design to immersive training, we cannot wait to see the amazing things our enterprise customers will create in the months and years to come.”

Apple (NASDAQ: AAPL) Stock Price Action

AAPL stock fell 0.54% to close at $185.85 on Friday. The traders had exchanged hands with 101,897,671 (101.89 million) shares compared to the average daily trading volume of 54.17 million.