iPhone Set for Another Quarter of Negative Sales Growth

(Bloomberg) -- Apple Inc.’s iPhone is set for another soft quarter, as potential buyers likely held off on upgrades prior to the Sept. 10 launch of the 11 model family. The device’s year-over-year revenue growth is seen at -12%, the average analyst estimate as of Oct. 29, according to Bloomberg MODL. With the marquee product projected at 52% of Apple’s total sales for the fiscal fourth quarter ended Sept. 30, the company is likely to post a flat quarter of overall revenue growth.

--With assistance from Brad Skillman.

To contact the reporter on this story: Nancy Moran in New York at nmoran@bloomberg.net

To contact the editor responsible for this story: Sophie Caronello at scaronello@bloomberg.net

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