business insider Apple sees $111 billion in market value erased on disappointing 4th-quarter iPhone sales and lack of

[UltraMega]

Quote

Apple sank as much as 5.6% on Friday after the company's fiscal fourth-quarter report fell just short of analyst expectations.

 

The tech giant beat estimates for quarterly revenue and profit, bolstered by robust growth in its wearables and services segments. Mac sales climbed to a record high amid continued work-from-home activity. iPad sales also surprised to the upside.

 

But iPhone revenue missed the mark. Apple's new 5G-capable lineup hit shelves roughly one month later than usual, ensuring that iPhone 12 sales will first show up in its next quarterly report.

 

The stock's tumble meant that as much as $111 billion was erased from Apple's market cap at intraday lows.

Source: https://www.msn.com/en-us/money/topstocks/apple-sees-24111-billion-in-market-value-erased-on-disappointing-4th-quarter-iphone-sales-and-lack-of-forward-guidance/ar-BB1axQHn

 

 

Just some dry tech news. Apple makes quality hardware but they are also considered by most to be a luxury brand and it makes sense that a luxury brand would suffer during these times.

Edited November 6, 2020 by axipher

[Andrew]

That's not really surprising. The iPhone 11/11 Pro were such a huge leap forward from the XR/XS. Just about everyone I knew who was going to buy an iPhone bought the 11 or 11 Pro. The only real difference between the 11/11 Pro and 12/12 Pro is the new design, OLED screen, better CPU and the Pro model has LIDAR which gives you basically instant autofocus. There really aren't very many people at all jumping on the 12/12 Pro like there was with the 11/11 Pro. The new iPhone Mini is going to be interesting though, I would like to see how well those sell.

[UltraMega]

29 minutes ago, Andrew said:

That's not really surprising. The iPhone 11/11 Pro were such a huge leap forward from the XR/XS. Just about everyone I knew who was going to buy an iPhone bought the 11 or 11 Pro. The only real difference between the 11/11 Pro and 12/12 Pro is the new design, OLED screen, better CPU and the Pro model has LIDAR which gives you basically instant autofocus. There really aren't very many people at all jumping on the 12/12 Pro like there was with the 11/11 Pro. The new iPhone Mini is going to be interesting though, I would like to see how well those sell.

You think it has more to do with that than the pandemic? 

[Andrew]

3 minutes ago, UltraMega said:

You think it has more to do with that than the pandemic? 

Yeah. This happens every 2-3 years. Apple release a phone much better than the predecessor, everyone buys it. The next year they release a phone that's only a slight improvement and sales are no where near as good as the previous year.

[Sir Beregond]

My two Apple cult member co-workers ordered new iPhones immediately after announcement and I believe were able to pick them up last week. They both had whatever the previous model was (I am not well versed in iPhones) all while touting all these features they'll never use.

 

Then they got home and said how their 5G signal sucked at their respective homes. I felt bad about it, but I couldn't help but laugh.

[Darkpriest667]

Also Apple is mostly a US phenomenon. In China, India, and the other big markets buy phones like Huawei, Xiamoi, and Samsung. 

 

 

The other issue is, and other phone manufacturers have to be aware of this. 1200 USD for a phone is a little ridiculous.  I'm a middle class American and I won't pay more than 600 dollars for a phone brand new.  I think this is mostly young adults and teenagers having to have the latest. I could be wrong, but I work for a huge IT company and no one in my department bought the new Iphone and one guy bought the Galaxy 20 plus, but only because he's bought every new Samsung phone since the start of the century.

Edited November 2, 2020 by Darkpriest667

[UltraMega]

I only spend about $200-$300 on a phone and I don't think I'm missing anything. I can't imagine spending more would change my user experience in any meaningful way. Most phones in that price range now days have a pretty good cpu, can record in 4k and even have full body screens which the iphone 12 doesn't have. By all means my ~$200 phone looks newer than an iphone 12 just because of the full body screen. I won't deny apple makes nice hardware but for me it's hard to see any reason to spend over a few hundred bucks for a phone, be it apple or google. The diminishing returns fall off very sharply.

[Andrew]

$1200? They start at $800 ($700 for the Mini) for the regular and $1000 ($1100 for the Pro Max) for the Pro. That is still really expensive, I agree but as far as flagship phones go these days, that's actually on the cheaper side. From what I can see, all of these phones (some aren't even the latest models) are more expensive than the iPhone 12: S10 Plus, P30 Pro, Xperia 1, S10, S20 4G, S9, Xperia  5, P30, P30 Pro New Edition, S10e, S20fe.

 

At least none of these phones are made out of garbage plastic anymore. You're at least getting something that feels like it's worth close or sometimes over $1K.

[Darkpriest667]

3 minutes ago, Andrew said:

$1200? They start at $800 ($700 for the Mini) for the regular and $1000 ($1100 for the Pro Max) for the Pro. That is still really expensive, I agree but as far as flagship phones go these days, that's actually on the cheaper side. From what I can see, all of these phones (some aren't even the latest models) are more expensive than the iPhone 12: S10 Plus, P30 Pro, Xperia 1, S10, S20 4G, S9, Xperia  5, P30, P30 Pro New Edition, S10e, S20fe.

 

At least none of these phones are made out of garbage plastic anymore. You're at least getting something that feels like it's worth close or sometimes over $1K.

 

 

The Samsung S20 is 1200

 

EDIT--- amazon.com/Samsung-Unlocked-Fingerprint-Recognition-Long-Lasting/dp/B082XYGR2C?th=1

Edited November 2, 2020 by Darkpriest667

[Andrew]

1 minute ago, Darkpriest667 said:

 

 

The Samsung S20 is 1200

 

EDIT--- Looks like pandemic pricing is in effect you can get them for a whopping 949 dollars IF you only want 128 of storage. 512 is 1199.

?

[m4fox90]

Sitting on my iPhone X still, I just see no reason to get any phone that's come out since then. No battery issues, no performance issues. Phones seem to be in the stagnant phase CPUs were before Ryzen came along.