Apple is expected to announce its first quarter results later today, and many people are already expecting flat iPhone sales for the company’s first quarter of the year.
Apple took a huge risk for last fall’s iPhone unveil by introducing a redesigned iPhone that costs almost $1,000. The iPhone X may sport exclusive features like animoji, an OLED display, Face ID and more, but it seems as if those features weren’t enough to make the iPhone X a hit among consumers.
Earlier reports stated that Apple has asked its suppliers to cut the iPhone X production in half due to the slow sales during the holiday season. These reports have caused analyst to predict Apple will announce low numbers today.
Analyst Tim Long of BMO Capital Market has been quoted saying, “There has been much in the press about order cuts for iPhones X, and we believe a weaker mix in Q1 will push estimates lower for March and beyond…We expect a meaningful guide lower when the company reports on Thursday night, on the order of $5-6 billion compared to consensus revenue estimates.”
If you want to hear Apple announce its earnings live, you can do so by heading over to the company’s website. The live audio webcast will start February 1, 2018 at 2 p.m.PT/ 5 p.m. ET.