Investors will find out later this month just how badly iPhone sales have slipped. Apple updated its investor website today revealing it has scheduled its Q3 2019 earnings call for Tuesday, July 30, 2019, at 5PT.
Tim Cook sounded confident about Apple’s future when he got on today’s Q1 2019 earnings call with investors this afternoon. Despite slumping iPhone sales and declining revenues, Cook told investors that his company is being managed for the long-haul instead of short-term gains.
Wall Street is already responding positively to Apple’s earnings report with shares trading up in after-hours trading. The company has 1.4 billion active Apple devices in the world, positioning Apple to continue raking in money as no other company can. However, today’s call revealed some new challenges Apple faces going forward.
Analysts with sobering certainty say Apple is set to report its first ever decline in iPhone sales. Reports of cutbacks in production and shipments, and chatter about the iPhone 6s and 6s Plus not offering enough new features to inspire a rush to upgrade all point to one bummer of an earnings report.
But they might be overlooking one indicator – sales of older iPhones.
Greenlight Capital is suing Apple in an effort to get Apple to send back more of its $137 billion cash reserves in the form of shareholder dividends. Apple took this fairly seriously, and issued a press release explaining where they were at on the issue, including the fact that the Cupertino-based company has already given shareholders $10 billion of a planned $45 billion in cash.
Today, however, a judge in the US Court for the Southern District of New York approved a request by both parties in the suit to move the timetable for a response, with Apple planning to file by the end of the day this coming Wednesday, according to a report in the Wall Street Journal.