Worries about sales hit both Apple and Samsung stock prices.
Both Apple and Samsung this week predicted slow growth for smartphone and mobile phone sales in early 2016, making investors queasy.
Apple’s stock dropped 6.5% at Wednesday’s market close after CEO Tim Cook told investors he expects iPhone unit sales to decline for the current quarter compared to a year ago. Apple’s iPhones make up the majority of its revenues. Trading in Apple was flat this morning.
Samsung’s stock also dropped by 2.5% late in the day of Thursday trading after the South Korean company reported a 10% drop in mobile sales in the last quarter of 2015. The company said it would be a challenge to maintain operating profits for 2016.
Continue reading Interest in smartphones is flattening