Apple Forecasts Lighter Holiday-Quarter Margin on Costs
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Apple Inc. forecast gross margins that missed analysts’ projections, as the world’s most valuable company faced higher costs to introduce new iPhones and iPads ahead of the holiday shopping season.
The Cupertino, California-based company forecast gross margins will be 36.5 percent to 37.5 percent, compared with 38 percent predicted by analysts. Revenue in the current period will also be $55 billion to $58 billion, Apple said in a statement today. While that topped the $55.5 billion average of analysts’ estimates compiled by Bloomberg, it would be the first single-digit sales rise for the holiday period since 2008.