Wall Street Panics Over Weak iPhone Sales, Apple To Soothe Investor Worries With $100B Giveaway

Apple failed to deliver on expected iPhone sales figures and forecasts have been grim for the company. Wall Street is now in full-blown panic mode, as a result, and Apple is thinking of soothing investor concerns by returning around $100 to $150 billion. Even then, however, it might not be enough to hold back the flood of worry that has been unleashed.

Much of the furor that has been surrounding Apple is due to analysts lowering forecasts of iPhone sales to 51 million units from the 54 million that Wall Street was counting on, Reuters reports. However, aside from discussions of the weak iPhone sales performance, Apple could also be contending with questions on its other ventures such as Apple Music and iCloud.

As of right now, the iPhone still represents about 60 percent of the company’s overall revenue, but investors and shareholders were expecting its service-based offerings to have picked up by now. Instead. Apple’s progress has stalled and Wall Street is not happy with it.

Back in February, the company said that this particular segment grew by 18 percent and that revenue stood at $8.4 billion. Unfortunately, this was just shy of what analysts were expecting, which was $8.6 billion.

So now, Apple could be thinking of giving back up to $150 billion to shareholders in order to calm them down. This amount was recently made possible thanks to the new tax cuts that the US government issued, CNN reports, which made it easier for the company to bring its overseas money back to the country.

Even with this kind of money being thrown at the problem, though, the Cupertino giant is still expected to contend with tidal waves of anxiety from investors who are starting to see a major blockage for Apple. Many are concerned that Apple might be nearing the end of its rope.