What a difference a year makes. Last summer Apple was still on top of the world and its stock price was headed for $700. This year, the company faces the prospects of slower growth and declining margins as the high-end smartphone market nears saturation. Fortune reports that the emerging consensus among Wall Street analysts is that Apple will post significantly lower year-over-year revenue growth in the fiscal third quarter of 2013. In fact, Fortune’s own preliminary survey shows that analysts now expect the company to report $35.02 billion in revenue on the quarter, which just happens to be the exact same figure that Apple posted in the fiscal third quarter last year. Apple will report its fiscal Q3 earnings on July 23rd.
Apple predicted to post almost no revenue growth in fiscal Q3
Published Jul 10th, 2013 6:20PM EDT
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Brad Reed has written about technology for over eight years at BGR.com and Network World. Prior to that, he wrote freelance stories for political publications such as AlterNet and the American Prospect. He has a Master's Degree in Business and Economics Journalism from Boston University.
