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Right's Asset Management

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01 May 2019

Apple's quarterly report

Apple's quarterly report inspired investors and futures on the Nasdaq are rising for 0.7% this morning (and AAPL shares show + 5%). The company's revenue fell by 4.6% due to the stagnation in the smartphone market and the decline in iPhone sales (by 18%!). However, the company gave a good forecast for revenue in the 2nd quarter of 2019 - at the level of sales last year, despite the decline in sales of iPhone. Apple expects continued good growth in non-iPhone sectors (services in the first place). The decline in sales of the iPhone itself will continue (-15% in the next reporting quarter). Tim Cook also spoke about the high positive expectations from sales in China.

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