Wait for next iPhone may hit Apple’s revenue
As iPhone fans await the release of a new model, they are delaying purchases and may cause Apple Inc., the world’s largest company by market value, to post its slowest sales and profit growth in more than two years.
Analysts estimate that sales of iPhones — Apple’s biggest source of revenue — slid in the fiscal third quarter from prior periods. While analysts predict that the next iPhone will be the best-selling smartphone yet from Cupertino, California-based Apple, the purchasing delays will probably weigh down results until the device hits stores.
The iPhone 5 is only expected to hit store shelves around October — just in time for the holidays — with a thinner, larger screen and fine-tuned search features. Couple that pre-launch lull with slowdowns in Europe and China, Apple’s biggest markets outside of North America, and sentiment on the Wall Street darling is more muted than many can remember in a while.