Apple?s sales will be below year-ago figures for at least the next two quarters, the company warns in its 10-K filing with the Securities and Exchange Commission (SEC).
?The company believes that net sales will be below the level of the prior year's comparable periods through at least the second fiscal quarter of 1998, if not longer?, the document states. The second fiscal quarter is Q1 of calendar year 1998.
This further decline would in part be fall-out from the company?s decision, earlier this year, to fade out its Macintosh licensing business. Mac clone vendors are expected to lower prices to get rid of inventory, thereby putting pressure on Apple?s own sales and on its margins. Ironically, it was the pricing pressure from clone makers that pushed Apple to terminate the programme.
Apple?s net sales were down 28 per cent in 1997 compared to 1996, the 10-K document further states, and the company?s share of worldwide and US personal computer markets declined to 3.6 from 5.7 per cent, and to 4.6 from 7.4 per cent, respectively.
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