Apple needs cheap iPhone to crack India

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"While macroeconomic challenges in some markets were a key contributor to this trend, we believe there are other factors broadly impacting our iPhone performance, including consumers adapting to a world with fewer carrier subsidies, U.S. dollar strength-related price increases, and some customers taking advantage of significantly reduced pricing for iPhone battery replacements".

Cook said the slowing in China's economy was made worse by "rising trade tensions with the United States".

Apple is having a rough quarter selling iPhones to Chinese consumers, according to CEO Tim Cook's letter to investors on Wednesday.

The statement from one of the world's largest companies will further rattle investors already anxious about the slowing Chinese economy. As of Thursday, Apple's share price was at $142, which is nearly 40 percent less than its $232 high from October. Some of the company's iPhones have passed the $1,000 mark while Chinese brands look to fill the mass market.

The company blamed an economic downturn in China as it revealed that sales declined at the end of 2018.

In a report released this morning, financial analysts Canaccord Genuity believe that in spite of yesterday's report, the company is still fundamentally sound and they continue to recommend a BUY for Apple stock. Amid Apple's problems in China, the Dow fell more than 300 points in early trading on Thursday. "We grew 16%, which we're very happy with. iPhone in particular was very strong, very strong double-digit growth there'". "It will be interesting to see how Apple shares react if there's a China trade agreement".

However, it was revealed by Apple this week that the company's fiscal first-quarter revenue would be 7 percent lower than previously expected, netting the company $84 billion.

Australia vs India fourth Test
Harris went on to notch his second half-century in Test cricket as the Aussies reached 1-80 after the first hour on Saturday. Earlier in the day, Cheteshwar Pujara missed his double-century by seven runs as he was dismissed by Natan Lyon on 193 runs.

A "deceleration" of growth in the Chinese economy was blamed for the adjustment but rising trade tensions between the country and the U.S. was cited by Apple CEO Tim Cook as an impact on the economy.

Apple had predicted sales revenue for the first quarter of 2019 to be within a range of $89 to $93 billion, and analysts were sitting closer to a $91 billion prediction.

Apple Inc. shares fell almost 10 percent by market close on January 3, following a press release issued by CEO Tim Cook after market close the previous day.

European markets opened lower on Thursday. "Apple is a great company".

After decades of expansion, the Chinese economy is slowing down.

He added that Apple was taking steps to make it easier for customers to trade in their phones and said other parts of the firm's business, including services, remained strong.

He also said Apple will launch a few initiatives to stimulate iPhone sales, including easy trade-ins of phones in Apple Stores, more financing plans and greater help with the transfer of data from old to new phones.

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