Apple Silence on Iphone Unit Sales Sparks Concern, Shows Future
Apple Inc.’s has decided to stop providing unit sales for iPhones, iPads, and Macs in fiscal 2019, a step toward becoming more of a services business, the company fourth-quarter results on Thursday.
While some pundits praised the move as a way to highlight a potent new business model, many analysts complained it was an attempt to hide the pain of a stagnant smartphone market. The stock fell more than 6 percent in extending trading on Thursday, putting the company’s $1 trillion market valuation at risk.
In its fiscal fourth quarter, Apple said iPhone unit sales were about the same as a year earlier. Starting next quarter, Apple will no longer report that number, or similar statistics for iPads and Macs. Those two product lines saw declines in unit sales.
Chief Financial Officer Luca Maestri said reporting 90 days of unit sales no longer presents an accurate picture of Apple’s performance. Chief Executive Officer Tim Cook likened reporting unit sales of products to disclosing how many items are in a shopping cart at the grocery store versus how much the items cost.