Apple’s 13 years of astonishing growth is likely to come to a close today, with the company predicted to report its first quarterly revenue decline since 2003 — well before the iPhone, iPad and Apple Watch were even faint glimmers in Apple execs’ eyes.
The company is expected to reveal that March quarter sales fell 10 percent year-over-year to around $52 billion. Apple first warned that sales would fall in its forecast back in January, although today we’ll find out the extent of that slide.
The reason for any revenue decline on the part of Apple is down to falling iPhone sales, which are responsible for the majority of Apple’s current earnings. It is likely that Apple will record between 50-52 million unit shipments for the March quarter, compared to 61 million this time last year.
Of course, as I’ve noted before, things are hardly grim for Apple. No company can continue laying down record-breaking numbers every quarter. Although some analysts are bound to spin today’s figures as the beginning of the end for Apple, it’s worth noting that last year the company earned a whopping 40 percent of total profits in Silicon Valley, while iPhone sales are set to rebound later in the year with the launch of the iPhone 7.
Make sure to check back in on Cult of Mac at 1pm PST when we’ll be giving blow-by-blow analysis of Apple’s quarterly earnings call.