Apple Sales Fall to 20% in 2016
“Target reported disappointing Q2 earnings on Wednesday, and management placed part of the blame squarely on Apple,” Rayhanul Ibrahim reports for Yahoo Finance.
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“Comparable store sales at Target overall fell by 1.1%, but Target executives noted that electronic sales decreased by double digits and ‘accounted for 70 basis points [0.7%] of overall comp decline,’” Ibrahim reports. “Even more notably, Target specifically pointed out that Apple product sales were down by ‘more than 20%’ year-over-year and were to blame for a third of the overall plunge of electronic sales at Target.”
“Interestingly, Apple’s own Q2 earnings showed a more positive story, and possibly indicated they may not be as incentivized as Target to act in good faith — iPhone sales decline by 15%, iPad by 9%, and Macs by 11%. Bad for sure, but much better than what Target’s tracking shows.”
Read more in the full article here.
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