14 DAY TRIAL // iPhone sales aren’t going as strong as Apple anticipated, and earlier today, it was reported that the company turned to yet another production cut to align inventory with demand worldwide.
And despite the iPhone clearly declining, Apple CEO Tim Cook says there’s no reason to worry, explaining that those who criticize the company do the same thing every once in a while.
“In terms of the naysayer, I've heard this over and over again,” Cook told Jim Cramer in an interview on CNBC. “I've heard it in 2001, I've heard it in 2005, in '7, in '8, in '10, in '12 and '13. You can probably find the same quotes from the same people over and over again.”
iPhone XR particularly successful
Cook goes on to explain that the Apple ecosystem is “probably underappreciated” and adds there’s no reason to be concerned because in the long term not much is going to change for the company.
“I'm never surprised by the market, to be honest with you, because I think the market is quite emotional in the short term. We sort of look through all of that. We think about the long term. And so when I look at the long-term health of the company, it has never been better. The product pipeline has never been better. The ecosystem has never been stronger. The services are on a tear,” he said.
Tim Cook has also praised the 2018 iPhone lineup, reiterating that the iPhone XR is rather successful, being the most popular model every day since its launch.
Apple earlier this month adjusted its earnings guidance, explaining that sales are expected to decline due to two different factors, namely the growing tension between China and the US on import fees and the battery replacement program for the iPhone.
Cook says he expects the talks between China and the United States to come to a conclusion soon, meaning iPhone sales could once again go up in this particular market.