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Analysts believe the weakening of the ruble, the reason of falling of sales of the iPhone

Apple in the second quarter of 2016 financial year recorded a decrease in iPhone sales for the first time since the launch of smartphones in 2007 and the first decrease in earnings since 2003. For the three months ended March 26, 2016, the company sold 51,19 million iPhone vs 61,17 million for the same period of the previous year. Apple cut its net profit by 22.8% to us $10.5 billion compared to $13.6 billion, profit per share decreased by 18.5% on the back of buyback program from $2.33 up to $1,90.

IPhone sales in the second fiscal quarter of 2016 compared with the same period last year fell 16%. Geographically, the largest drop in sales by 26% — was recorded in China and in the United States, the drop was less than 10%. In this regard, the company has informed on increase in volume of share repurchases by $175 billion instead of $140 billion, announced earlier. On the totality of the main and additional trading sessions, Apple shares have lost more than 8% and was fixed at $96,11. Today, sales can continue.

Problem Apple not become a revelation to experts. Back in January this year, the company reported a projected decline in quarterly revenues in Russia from sales of gadgets at $5 billion “due to excessive weakening of the ruble”. Among the currencies that have impacted on the competitiveness of California companies, were identified as the pound sterling, the Australian and canadian dollars, Mexican pesos, Brazilian real and Turkish Lira. Similar complaints, incidentally, came not only from Apple but also from their competitors.

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“Our results look even more impressive given the challenges posed by the global macroeconomic environment,” said Tim cook. According to his estimates, currency fluctuations lowered the company’s revenue by 15%.

According to Investing analysts, report Apple confirmed what was going on in American multinational corporations, changes in financial flows. If in the near future the dollar index will not return to their srednestatichesky comfortable levels, it is easy to make a prediction about what American companies everywhere will continue to lose their market niche.

For the current fiscal quarter, Apple expects revenue in the range of $41 billion to $43 billion and the Consensus forecast of Wall Street was much higher: $47.3 billion

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