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Tag Archives: China

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 ...

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Apple cuts forecast, citing weak China sales amid trade tensions

(Reuters) – Apple Inc on Wednesday took the rare step of cutting its quarterly sales forecast, with Chief Executive Tim Cook blaming slowing iPhone sales in China, whose economy has been dragged down by uncertainty around U.S.-China trade relations. The news sent Apple shares tumbling in after-hours trade and triggered a broader selloff in the stock market. The revenue cut ...

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