Cardinal Trading: Apple earnings beat expectations again but it is struggling to sell iPads.
Cardinal Trading has reported that though Apple continues to ship record numbers of iPhones and other items in its ecosystem with great success, it is evidently having difficulty selling iPads.
The Cupertino, California-based technology giant sold an incredible 39.3 million iPhones in the third quarter – a 16% jump on the same period last year – but experienced a 13% year-on-year drop in the number of iPads sold shipping just 12.32 million units.
Apple reported earnings of $1.42 per share on revenue of $42.1 billion and provided upbeat sales guidance for the current quarter of between $63.5 billion and $66.5 billion.
Senior technology analyst at Cardinal Trading, Paul Sharkey said, “This has become something of a recurring theme at Apple and we don’t see how they’re going to change it any time soon. The facts on the ground are that there really is only so much you can do with an iPad; share pictures, watch some videos and fool around on WhatsApp or Facetime and frankly, you can do all that on an iPhone especially with the new, bigger screens.”
Customers appear reluctant to upgrade their iPads with the same regularity as they might update their iPhones which are seen as far more essential.
The company introduced its iPad Air 2 and iPad Mini 3 boasting thinner chassis and faster processors but Cardinal Trading says it doesn’t expect the new improvements to make much of a difference to overall sales of the market-leading tablet computer.
“We expect to see this trend continue so Apple needs to find another product or give users more reasons to upgrade,” said Sharkey.
About Cardinal Trading:
Cardinal Trading is highly respected for its commitment to providing exceptional investment counseling services to international clients.
We have been enabling individuals to take control of their investments and finances since 2006 and our team of Personal Investment Advisers, together with the dedicated client administration personnel that support them, adhere to the stringent standards as set down by financial regulators and industry bodies.
Our desire to remain independent means that we labor under no obligation to any one financial institution or investment product provider. This cherished independent status means that we are at liberty to select only the products and make the recommendations that are most likely to culminate in the realization of your investment goals.
Contact Cardinal Trading:
Tokyo Ginza Shiseido Building,
Level 6, 8-8-3 Ginza,