English: Steve Jobs shows off the white iPhone 4 at the 2010 Worldwide Developers Conference Español: Presentación del iPhone 4 por Steve Jobs en la Worldwide Developers Conference del año 2010 (Photo credit: Wikipedia)
Eighteen months after taking over from Steve Jobs, Cook is facing rising production costs, competition from Samsung Electronics Co. and slowing growth in smartphones, threatening profits for the world’s most valuable company.
An earnings report tomorrow may show that fiscal first- quarter net income slipped 2 percent to $12.8 billion, or $13.48 a share, according to analysts’ estimates compiled by Bloomberg. That would be the first drop since 2003. In all except one quarter since that same year, profit has jumped more than 10 percent. Analysts project sales will rise 18 percent to $54.8 billion, the slowest growth rate since 2009.