Apple cut its revenue outlook for the latest quarter Wednesday, citing steeper-than-expected “economic deceleration” in China and emerging markets.The rare revenue warnings from Apple suggested weaker-than-anticipated sales of i Phones and other gadgetry, in part because of trade frictions between Washington and Beijing.
Apple shares slid some 7.6 per cent in after-hours trade on the news.
The company slashed its revenue guidance for the first fiscal quarter of 2019, ended December 29, to $84 billion — sharply lower than analyst forecasts averaging $91 billion.
“While we anticipated some challenges in key emerging markets, we did not foresee the magnitude of the economic deceleration, particularly in Greater China,” Apple chief executive Tim Cook said in a letter to investors.
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