It’s safe to say that Apple’s year has become lackluster. The tech giant may be set to release a brand new iPhone, but it seems it will be a little more than a slightly enhanced version of the iPhone 6. To top it all, the company’s second quarter figures are also unimpressive.
Apple has released its second quarter results for 2016, and sales are significantly down from last year. Net sales for the second quarter this year was only $50,557. This is disappointing, considering that during the same time last year, the company managed to pull in $58,010.
The difference becomes slightly less when looking at the company’s sales for the last six months. This year, the company only managed to do $126,429. Last year, Apple earned $132,609 in net sales during its first six months.
According to the company’s recent SEC filing, the company also suffered in revenue from its products. Total revenue was down by 33 percent, amounting to only $50.6 billion, compared to last quarter’s $75.9 billion.
When it comes to the iPhone, Apple only managed to gain second quarter iPhone revenues for approximately 51.2 million units that amounted to around $32.9 billion. It means that its iPhone revenues are down by as much as 36 percent from the first quarter of the year.
Moreover, its revenues are down by 18 percent from the second quarter of last year. In 2015, Apple earned around $40.2 billion from approximately 61.2 million units of its iPhone.
According to a recent report from Fortune, it looks like disappointment will continue for the iPhone a bit longer, as one analyst pointed out that the upcoming iPhone 7 will be just an updated version of the iPhone 6. According to Barclays analyst Mark Moskowitz, recent supply chain checks by his firm show that the “iPhone 7 could be more of a replacement cycle versus a mega cycle (i.e. iPhone 6).”
It seems all signs are pointing out that iPhone 8, instead of iPhone 7, is the smartphone to look out for. For now, Apple stock (AAPL) is down slightly by 0.695 percent to $104.35.