Apple misses estimates with 74.8 million iPhones shipped last quarter

Apple shipped 74.78 iPhones in the holiday quarter of 2015, falling short of analyst expectations of 75 million iPhones shipped.

Analysts and industry-watchers have been forecasting an iPhone sales decline for the past several weeks, pointing at signs like lowered Apple orders for critical phone components and apparently diminished demand for the current iPhone 6s.

Fortunately for Apple, iPhone revenue is still very slightly up from the same period in 2014, in the neighbourhood of 1% — contrary to some naysayers predictions. That means that Apple has yet to announce a quarter where iPhone revenue fell compared with the previous year.

And it was a big jump up from the 48 million iPhones that Apple sold in the preceding quarter, thanks to the holiday shopping season.

Apple is said to be working on new, smaller, lower-cost iPhone, dubbed the iPhone 5se, in an effort to reach a broader market and kickstart iPhone sales once more.

And analysts like Piper Jaffray’s Gene Munster think that this is all going to keep Apple’s stock flat, making it a prime time to buy — after all, the iPhone 7 is expected to launch in September, and that will cause quite a pop, he says.

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