Apple: iPhone sales could take a big hit from China slowdown

5 month ago

Apple (AAPL) warned investors that their holiday sales would fall due to the "less than expected" iPhone sales in China in the context of a continuing trade war with the United States, as well as other factors such as offering cheaper battery alternatives for the iPhone.

After decades of expansion, the Chinese economy has slowed down. The year 2019 seems even worse. Second world economy.

Apple now expects the turnover for the previous three months will be about $ 84 billion, less than the previous range estimated between $ 89 and $ 93 billion. This was the first time since June 2002 that Apple reported a decline in its quarterly revenue forecast.

The iPhone has been Apple's leading money maker for years, accounting for nearly 60% of Apple's total sales in the quarter ended September.

The company's shares briefly stopped hours after the announcement of Cook's speech and fell by 8% when negotiations resumed. Which spent $ 55 billion on the stock market value of the company.

In his letter to investors, Cook continued its Apple's "non-iPhone businesses," including mobile devices and additional services such as iCloud, Apple Pay and App Store. But he acknowledged that the downward revision of his sales prospects was "disappointing".