The last quarter of this year isn’t expected to be kind to Apple. According to a Forbes.com report, the company will likely post its first decline in profit since 2003. This news comes as Apple stock continues to fall from record highs reached just before the release of the iPhone 5 earlier this year. Now down over 21%, most analysts predict this tend to continue for the short term.
The fact that the world largest publicly traded company is experiencing a downturn in profits is also causing analysts to believe the entire tech sector’s profits will shrink by 2.4% in the 4th quarter. How this might impact other phone OEMs remissions to be seen, but this is surely a day that hasn’t been on the mind of Apple in a long, long time.