John Naughton: Apple has a blip and the world wobbles. Why? | John Naughton

Apple has published its latest quarterly figures and the doomsayers are again questioning its future. They should look at the facts

It’s that time of year again. Apple has released its results for the fiscal quarter ended 24 September 2016 and we are immediately plunged into “Has Apple peaked?” speculation. How come? Well, the company posted quarterly revenue of $46.9bn and net income of $9bn. Not bad, eh? Ah, yes, but not if you’re a Wall Street analyst, because these numbers compare to revenue of $51.5bn and net income of $11.1bn in the same quarter the year before. And – shock, horror! – the company’s gross margin was only 38% compared to 39.9% a year ago. The numbers are down, in other words.

Cue fevered speculation about the fate of the company. The numbers, burbled one analyst, show “the danger of being a one-trick pony when everyone already owns a pony. The company’s reliance on the smartphone, which is now a mature and saturated market in the developed world, is starting to create a growth problem for Apple. Breaking through will be a challenge, reminding investors Apple’s fundamentals and stock price have peaked.”

Related: Imagination Technologies falls after Apple results

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