Foxconn sales dip 19% year on year, “disappointing” iPhone demand blamed

Foxconn

As usual before an Apple earnings call, doom and gloom analysts pop out of the woodwork to claim that Apple’s products are losing their appeal. It’s generally always an attempt to affect Apple’s stock value and force it down. It worked at the end of 2012, and it will more than likely have a negative impact on AAPL value now.

Foxconn reported that its revenue dropped by around $27 billion compared with the same quarter a year ago. As reported by Reuters:

“A quarterly decline was expected, but not a yearly decline,” said KGI Securities analyst Ming-chi Kuo. “This shows that Hon Hai’s revenue depends too much on Apple, and iPhone orders corrected more than expected.

We’ll find out exactly how “disappointing” Apple iPhone sales were during the first quarter of this year during an earnings call towards the end of this month. Analysts are at odds on how many they think were shifted, with guesses from between 33 million and 42 million making the rounds. It is worth noting, analysts’ idea of disappointing is very different from Apple. All they care about is AAPL’s stock value and so they’ll not be happy unless Apple sells at least a bazillion iPhones and give Apple a market value of a trillion dollars.

Via: Reuters

 

 

Tags: , ,