Connect with us

News

Apple Lowers Revenue Projection

Published

on

inside apple company
  • Apple Lowers Revenue Projection

Apple Inc., lowered revenue projection for the first time in two decades, citing weak growth in China and supply constraints to latest models of Apple Watch, iPad Pro and AirPods.

Tim Cook, Apple Chief Executive Officer, said on Wednesday that the company’s projection for the final quarter of 2018 is $84 billion, down from the $89 billion previously estimated and below the $88.3 billion reported for the first quarter.

Apple shares plunged 8.5 percent following the announcement as investors reportedly selloff their holding of the stock amid outlook uncertainty. The announcement was after weeks of speculation by analysts that Apple’s revenue will drop in 2019 due to suppliers’ data showing the company lowered orders for the new year.

“While we anticipated some challenges in key emerging markets, we did not foresee the magnitude of the economic deceleration, particularly in Greater China,” Cook wrote. “Sales in China and other emerging markets accounted for the majority of iPhone decline, but iPhone upgrades also weren’t as strong as the company anticipated in some developed markets,” Cook said.

Daniel Ives, an analyst at Wedbush Securities, said: “The fact that they missed that wasn’t the shock, it was the degree and how confined it was to China. The fact that China basically fell off a cliff was a jaw dropper, and combined with the lack of metrics, it makes investors feel like they’re walking blindfolded in the dark.”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market.

Continue Reading
Comments

News

British High Commission to Start Accepting Visa Applications From Nigerians Soon

Published

on

international-passport

UK Embassy to Start Accepting Visa Applications from Nigerians Soon

The British High Commission in Nigeria has said it will start accepting visa applications from Nigerians willing to travel to the United Kingdom.

In a statement issued Thursday, the British High Commission in Abuja said visa application centres, which were initially suspended due to the pandemic, would reopen “when it is safe to do”.

The statement read, “We know there are many Nigerian nationals hoping to travel to the UK when flights resume, both for employment and to see family members.

“UKVI are working closely with TSL contact, our commercial partner, to reopen visa application centres that were suspended due to COVID-19.

“UK visa application centres are reopening in phased manner globally when it is safe to do so and when we can operate an effective service.”

The commission also noted that Nigerians planning to visit the United Kingdom can do so immediately international flights resume in the country.

This statement was put out on the same day the United States reported over 60,000 new cases of COVID-19 pandemic and the Federal Government of Nigeria put on hold its school resumption plan.

Continue Reading

News

COVID-19 Cases Inch Closer to 30,000 in Nigeria

Published

on

COVID 19

NCDC Reports More COVID-19 Cases in Nigeria

The number of COVID-19 victims continues to rise in Africa’s largest economy, Nigeria, according to the Nigeria Centre for Disease Control (NCDC).

According to the centre, the number of confirmed cases rose by 503 on Tuesday to 29,789 while the number of recovered and discharged patients increased to 12,108.

However, 15 new deaths due to the virus were reported in the last 24 hours.

NCDC said, “Till date, 29,789 cases have been confirmed, 12108 cases have been discharged and 669 deaths have been recorded in 36 states and the Federal Capital Territory.”

A break down of the report revealed that the 503 new cases were reported from 20 states with Lagos remaining the frontline state with 153 new cases.

Ondo (76), Edo (54), FCT (41), Enugu (37), Rivers (30), Benue (24), Osun (20), Kaduna (15), Kwara (13), Abia (9), Borno (8), Plateau (6),Taraba (5), Ogun (3), Kano (3), Kebbi (2), Nasarawa (2), Bayelsa(1) and Gombe (1).

Confirmed Cases by States

States Affected No. of Cases (Lab Confirmed) No. of Cases (on admission) No. Discharged No. of Deaths
Lagos 11,520 9,696 1,691 133
FCT 2,322 1,596 691 35
Oyo 1,530 700 811 19
Edo 1,489 555 880 54
Delta 1,285 853 407 25
Kano 1,271 190 1,029 52
Rivers 1,235 396 796 43
Ogun 1,050 377 652 21
Kaduna 883 291 580 12
Katsina 628 164 441 23
Borno 555 73 448 34
Ondo 550 406 124 20
Gombe 521 120 380 21
Bauchi 516 19 485 12
Ebonyi 503 71 426 6
Plateau 460 205 241 14
Enugu 418 152 255 11
Abia 400 179 218 3
Imo 352 283 61 8
Jigawa 318 0 308 10
Kwara 297 126 162 9
Bayelsa 269 116 137 16
Nasarawa 234 113 113 8
Osun 198 107 84 7
Sokoto 153 12 125 16
Niger 122 28 87 7
Benue 121 80 35 6
Akwa Ibom 112 38 71 3
Adamawa 99 21 71 7
Kebbi 86 16 63 7
Zamfara 76 0 71 5
Anambra 73 7 57 9
Yobe 61 2 51 8
Ekiti 45 3 40 2
Taraba 27 16 11 0
Cross River 5 1 3 1
Kogi 5 0 3 2

Continue Reading

News

Fire Guts Central Bank of Nigeria Office in Gombe

Published

on

Central Bank

Fire Outbreak at Central Bank of Nigeria Office

The Central Bank of Nigeria on Friday said there was a fire outbreak at its branch in Gombe.

In a statement released by the apex bank through its official Twitter handle @cenbank, it said “Today, a minor fire incident was reported at our Gombe branch.”

The central bank further stated that the fire started from an electrical fault and destroyed some furniture in the Controller’s office but it was quickly put out.

Also, the apex bank emphasised that no injury, records, or assets were affected during the incident.

“The fire which started from an electrical fault and partially destroyed some furniture in the Branch Controller’s office was promptly put out. There was no injury and no record or other asset of the Bank was affected.”

CBN

Continue Reading
Advertisement
Advertisement
Advertisement
Advertisement

Trending