Apple Profit Probably Fell For The First Time In A Decade

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Tim Cook, Phil Schiller and others sold Apple stock at a time when it was hitting record highs.
Tim Cook, Phil Schiller and others sold Apple stock at a time when it was hitting record highs.

Apple’s quarterly profit probably fell for the first time in over a decade, thanks to new products with lower profit margins and a slowing demand for the iPhone, Bloomberg reports. Fourteen analysts have reduced their estimates for Apple in recent weeks, and on Friday, the Cupertino company’s share price fell below $400 for the first time since December 2011.

Apple Nicknamed “Poison Apple” By Suppliers As iPhone Demand Becomes Unpredictable

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Apple’s hard-to-meet high standards and its low price expectations have earned it the nickname “Poison Apple” with Asian suppliers, who say they are feeling the affects of decreasing demand of the iPhone. Several have told Reuters that they are trying to reduce their reliance on Apple amid increasing competition from companies like Samsung.