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Apple slashes Q1 2019 forecast, blaming China and low iPhone upgrades

(Reuters) — Apple on Wednesday cut its current quarter revenue forecast, citing fewer iPhone upgrades and weak sales in China.

The company forecast $ 84 billion in revenue for the first quarter, which is below analysts’ estimate of $ 91.5 billion, according to IBES data from Refinitiv.

Apple originally forecast a revenue of between $ 89 billion and $ 93 billion for the current quarter.

“While we anticipated some challenges in key emerging markets, we did not foresee the magnitude of the economic deceleration, particularly in Greater Chi…

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