Boffins at Bloomberg have forecast Apple's Q2 income will drop by 18% year on year to only $9.53 billion. Revenue is up 8% to $42.4 billion but it is the slowest growth in sales since 2009. Apples shares dipped below $400 for the first time since December 2011, only a bit more than the $376 when Tim Cook took over in August 2011. Unnamed sources have spread rumours that Tim is to be replaced as CEO just 18 months after stepping into the biggest shoes ever to be worn by a CEO.
This could be an interesting time for Apple as other smartphones are now taking a bite of the Apple. Samsung outsold Apple in the last quarter of 2012 selling 64.5 million units to Apple’s 43.5 million. The Cupertino based tech giant has also been blamed for not introducing exciting tech into the market place quickly enough.
There are still plenty of legs left on Apple, so don’t go writing them off too soon. Benedict Evens from Enders Analysis predicted this “blip” after the astronomical growth that Apple has recently enjoyed.