Apple's (AAPL) Retail Sales Growth Comes to a Dead Halt
Tweet
Share
E-mail
Get Alerts AAPL Hot Sheet
Join SI Premium – FREE
One problem onlookers are pointing to from Apple's (Nasdaq: AAPL) fourth quarter report was weakness in retail store sales.
Year-over-year, retail sales rose just 1% to $3.584 billion in Q4. This was an abrupt change from prior quarters when growth was off the charts. In Q3, Apple reported that retail sales grew 36%. In Q2 it was 90% and in Q1 it was 95%.
The anemic fourth quarter retail sales growth came even as Apple opened 30 new stores in the quarter. In addition, Apple said it hosted a record 77.5 million store visitors in the quarter. So people were browsing but not buying.
While these latest number are concerning, this quarter was a difficult comparison as the year-ago quarter was when the iPhone 4 was launched. In addition, speculation about a new iPhone likely had many prospective customer holding off on purchases.
The launch of the iPhone 4S this quarter should return Apple's stores to growth.
Shares of Apple are down 5.5 percent in mid-day action Wednesday.
Year-over-year, retail sales rose just 1% to $3.584 billion in Q4. This was an abrupt change from prior quarters when growth was off the charts. In Q3, Apple reported that retail sales grew 36%. In Q2 it was 90% and in Q1 it was 95%.
The anemic fourth quarter retail sales growth came even as Apple opened 30 new stores in the quarter. In addition, Apple said it hosted a record 77.5 million store visitors in the quarter. So people were browsing but not buying.
While these latest number are concerning, this quarter was a difficult comparison as the year-ago quarter was when the iPhone 4 was launched. In addition, speculation about a new iPhone likely had many prospective customer holding off on purchases.
The launch of the iPhone 4S this quarter should return Apple's stores to growth.
Shares of Apple are down 5.5 percent in mid-day action Wednesday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- FOMC minutes from July 28-29th meeting
- UGI Corp. (UGI) halted on volatility, up 6%
- Apple Trains Its Own AI Model For China Market With Alibaba's Support- Reuters
Create E-mail Alert Related Categories
Insiders' Blog, Retail Sales, Trader TalkRelated Entities
iPhone 4Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
