Apple Inc. (AAPL) confirmed on its earnings call Thursday that its next iPhone will be delayed by "a few weeks." The company declined to give a financial forecast for the fiscal fourth quarter but Chief Financial Officer Luca Maestri said that investors should anticipate a slight delay in this year's iPhone launch timing relative to the prior cycle, in which there was some availability of the new models in late September. Maestri said that Apple expects "strong year-over-year performance" for the rest of its product categories. He cautioned that Apple Care faces difficult comparisons since the year-ago period featured an expansion of Apple's distribution of this feature. Apple Care could also be pressured by pandemic-related store closures, as was seen in the June quarter. Apple reported fiscal third-quarter results Thursday that easily topped expectations ( ) and the company announced that it would be doing a four-for-one stock split at the end of the month to make its shares more accessible. The stock was up 6% in after-hours trading Thursday and it's gained 31% over the past three months as the Dow Jones Industrial Average has added 8%.
-Emily Bary; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
July 30, 2020 17:45 ET (21:45 GMT)
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