Apple Inc. shares fell nearly 2 percent on Friday following a report from GfK that iPhone 7 sales would be weaker than last year. The German research firm released its estimates on the basis of data from Asia and Europe. The report didn’t included sales trend in the United States.
iPhone 7 unit sales have plummeted 25 percent on annual basis, when compared to the iPhone 6S sales in 2015, the report claimed. GfK said in an e-mailed statement that ‘’numbers on sales or market shares are confidentially provided to our clients and shall not be quoted or released to the public.”
Apple didn’t officially responded to the report.
Digitimes also recently reported that the Cupertino, California-based company told its chip partners that chip orders for iPhone 7 would decline nearly 20 percent in the Q1 of 2017, as compared to the previous quarter. Digitimes is a daily newspaper for semiconductor, electronics, computer and communications industries in Taiwan and the Greater China region.
These reports differ from initial statements from U.S. wireless carriers, which said that the new Apple smartphones’ are performing better than expectations.
Apple’s share price hasn’t made any significant improvement over the past year. The 52-week range of the stock is $89.47-$123.82. The company’s market cap is $597.21 billion and P/E ratio is 13.16.