Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Apple's Shares Drop After iPhone Sales Fall Short

Video Credit: Newsy Studio - Duration: 00:55s - Published < > Embed
Apple's Shares Drop After iPhone Sales Fall Short​A big reason for the company's lower sales was reduced iPhone sales in China.

Apple's Shares Drop After iPhone Sales Fall Short

Apple's shares fell 7 percent Wednesday after it lowered its revenue expectations for last quarter.

In a letter to investors , the company said it's changing its previous revenue estimate for the first quarter of 2019 — which began in October and ended just before the new year — from between $89 billion and $93 billion to $84 billion.  Although the letter listed several reasons for why the company lowered its fiscal expectations, Apple CEO Tim Cook  told CNBC  the "shortfall" was mainly due to lower iPhone sales "primarily in greater China," which is Apple's third-largest market.

Specifically, he said China's economy was slower in the second half of 2018 and that he believed that was due to trade tensions with the U.S. That being said, it wasn't all bad news for Apple.

The company said in the letter that its installed base hit an all-time high in 2018, and that sales of products like the Apple Watch, Airpods and MacBook grew as well.

You Might Like

Recent related videos from verified sources

Wall Street snaps five-day losing streak [Video]Wall Street snaps five-day losing streak

U.S. stocks jumped on Monday as the technology sector led a broad-based rebound. But the Dow's gain was limited by a fall in Boeing shares following a fatal airline crash in Ethiopia. Fred Katayama..

Credit: Reuters Studio     Duration: 01:15Published

Victoria's Secret Owner Sees Stock Dip [Video]Victoria's Secret Owner Sees Stock Dip

L Brands are the owners of the Victoria's Secret brand. The company beat on earnings but missed on sales. Its full-year profit guidance also fell short of the Wall Street consensus. The company posted..

Credit: Wochit Business     Duration: 00:38Published

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.