Apple Says Cheap Battery Swaps To Blame For Wonky Sales

Apple Revises Q1 Guidance Citing Chinese Trade And iPhone Sales As Things That Suck

Cook in November had cited slowing growth in emerging markets such as Brazil, India and Russian Federation when Apple gave first-quarter sales estimates that were lower than expected. The stock has fallen about 30 percent since Cook said in November that the company may miss its holiday quarter sales estimate.

"While we anticipated some challenges in key emerging markets, we did not foresee the magnitude of the economic deceleration, particularly in Greater China", Cook wrote. In late December, the promotional program for the new models went live in China, adding one major perk: users in China cannot only trade in their old iPhones, but also Android phones made by Apple's major competitors in China, including Huawei, OPPO and Xiaomi.

Peak Apple Apple shares were temporarily pulled from trading on Wednesday as the Cupertino idiot-tax operation warned of lousy sales numbers on the horizon.

Apple shares have plummeted after CEO Tim Cook revealed that the iPhone maker expects a drop of up to $9bn in revenue compared to its November report.

Cook said revised first quarter revenue forecasts to $84 billion, down from the company's initial estimates of $89-$93 billion.

Halo Investing's Jason Barsema and BigEyedWish's Ian Wishingrad on Apple cutting its sales forecast due to a downturn in iPhone sales in China and the outlook for Amazon.

An advertisement for Huawei Mate 20 series is seen outside an Apple store, as customers queue before the store opens on the day the new iPhone XR goes on sale in Shanghai, China October 26, 2018.

Australia v India: Cheteshwar Pujara scores century as tourists dominate first day
He removed Rahul in his first over, the opener nicking a delivery to Shaun Marsh at slip. He survived a review decision for caught behind on 12 but was otherwise unmovable.

But Apple has held firm on its premium pricing strategy in China despite the risk of a slower economy. FedEx Corp., Starbucks Corp., Tiffany & Co. and Daimler AG are also finding it harder to sell their wares in the world's second-largest economy.

"That is having an impact on earnings and it's not going to be just Apple", White House Chairman of the Council of Economic Advisers Kevin Hassett said in an interview with CNN. More affordable battery replacements are to blame, among others. "There are a heck of a lot of USA companies that have sales in China that are going to be watching their earnings being downgraded next year until we get a deal with China".

Apple, which has been growing in China even though it lacks a dominant position, is pressured by tariffs and other trade issues, further inflamed by the arrest of China-based Huawei's chief financial officer in Canada at the behest of the United States. Mid-level officials from the Trump administration are scheduled to travel to Beijing for talks early next week.

Still, some local players managed to grow against the trend and they may be eating into Apple's market share.

In an open letter to investors published last night, Apple cut its revenue forecast for the busy Christmas quarter by 7.8 percent.

But the biggest factor, by far, was the cooling economy in China, which is Apple's third largest market after the US and Europe.

Related News:

  • Netflix issues warning after Bird Box fans start freaky  challenge

    Netflix issues warning after Bird Box fans start freaky challenge

    To survive, Malorie has to make a risky journey to safety with her two children, Boy and Girl, all while blindfolded. Boy and Girl play children in the film who attempt to reach a safe place with Bullock away from the killer forces.
    Childish Gambino, Tame Impala and Ariana Grande will headline this year’s Coachella

    Childish Gambino, Tame Impala and Ariana Grande will headline this year’s Coachella

    It typically attracts some of the biggest names in music with previous headliners including Guns N' Roses, Lady Gaga and Drake. Ariana Grande , Childish Gambino and Tame Impala have been confirmed as headliners for the 2019 Coachella festival.
    Vatican spokesman Greg Burke and deputy resign

    Vatican spokesman Greg Burke and deputy resign

    In another tweet , he thanked Pope Francis and stated that his experience in the Holy City was "fascinating, to say the least". The head of Vatican communications, Paolo Ruffini, said he had learned of the decision by Burke and Garcia and respected it.
  • Khashoggi Murder Trial Opens in Saudi Arabia

    Khashoggi Murder Trial Opens in Saudi Arabia

    Candles burn in a memorial to slain journalist Jamal Khashoggi outside Saudi Arabia's Consulate in Istanbul in October 2018. Both former officials have been sacked and both were slapped with sanctions by the US Treasury Department in mid-November.
    Trump expecting to meet with North Korean leader soon

    Trump expecting to meet with North Korean leader soon

    North Korea often accuses the South of deceiving or paying people to defect, or claims that they have been kidnapped. South Korean officials had not been able to immediately confirm the media reports that he had sought asylum.
    Liverpool goalkeeper Alisson's footballing skills a nice surprise - Jurgen Klopp

    Liverpool goalkeeper Alisson's footballing skills a nice surprise - Jurgen Klopp

    However, they will have to overcome Liverpool tonight in a huge Premier League clash which could prove vital later down the line. Liverpool are in dreamland at the moment and their standout superstar Virgil Van Dijk has made a huge statement.
  • Domestic violence charge against Redskins LB Reuben Foster dropped

    Domestic violence charge against Redskins LB Reuben Foster dropped

    Ennis had previously accused Foster of violence against her in February 2018 but she recanted and those charges were dropped, too. His suspension for personal conduct was from his no contest plea of the weapons charge, which was reduced to a misdemeanor.
    McDonald’s employee attacked by man over a straw. She fought back

    McDonald’s employee attacked by man over a straw. She fought back

    A Florida man spent New Years day in a jail cell after police say he attacked a McDonald's employee for not giving him a straw . He also said he couldn't remember what actually happened, and at one point couldn't even say if it had happened at McDonald's.
    Cricket in heaven: Tendulkar honours boyhood coach

    Cricket in heaven: Tendulkar honours boyhood coach

    So there was a little bit of an attraction towards the cricket clinic that Achrekar sir was running at that time. Amol Muzumdar's father made a decision to take him to the legendary coach Ramakant Achrekar.
  • Villarreal v Real Madrid: 03 January 2019

    Villarreal v Real Madrid: 03 January 2019

    La Liga returns to action after a brief break over the holiday season when Villarreal hosts Real Madrid on Thursday. Real's Casemiro became the first player to be booked in the match four minutes before time with a late tackle.
    Wolverhampton Wanderers 'have £18m Tammy Abraham bid accepted'

    Wolverhampton Wanderers 'have £18m Tammy Abraham bid accepted'

    The young English forward has netted 16 goals and assisted one in 20 appearances for Villa, after joining on deadline day. The Chelsea loanee's exploits haven't gone unnoticed as a number of clubs have cast admiring glances towards the striker.
    Justin Bieber's tattoo artist has debuted the singer's new face tattoo

    Justin Bieber's tattoo artist has debuted the singer's new face tattoo

    Canadian pop star Justin Bieber has finally showed off his latest tattoo - and it's tiny. So many times wanting to give up asking God to take me home", JonBoy wrote.

Most liked

Copycat Trump flaunts knock-off ‘Game of Thrones’ poster at meeting
Other people had problems with Trump's "wall" meme that weren't related to " Game of Thrones ". I've never seen it in my life, sorry. "Happy New Year", Trump said . "I don't know", she said.

Spurs Fan Roasts Kawhi Leonard With Savage Custom Raptors Jersey
Kawhi Leonard's tenure in San Antonio ... well, it ended with some drama. "At times, yeah", Leonard said. The Spurs last played on New Year's Eve at home against the Celtics, beating Boston 120-111.

Nationals, Bryce Harper Met For Five Hours Before Christmas
The 26-year-old Machado is known to have met with the Yankees, Phillies and White Sox at length, all prior to Christmas. It appears the team knows that, and they are willing to break the bank to sign either player.

Airport water fountains tested after passengers get sick
Representatives from Cleveland Hopkins International Airport didn't immediately respond to Yahoo Lifestyle's request for comment. However, WFLA reported that healthy passenger Tiffany McKinney, said fellow travelers who fell ill "were coming out of nowhere.

New Delhi keeps tab on Islamabad role in Afghan peace process
The talks are created to set parameters for negotiations between the Taliban and the Afghan government, Iranian media reported. But the United States has insisted that any final settlement must be led by the Afghans.

C Just Got a Huge Upgrade - What You Need to Know
As of now, hooking up your device with an unknown USB Type-C charger could be a major potential threat in terms of data security. The USB-IF originally announced the authentication program in 2016, but it's taken all this time to get ready for launch.

US Presidential Hopeful Elizabeth Warren Cautious, But Not Anti-Crypto
In Boston on Wednesday she revealed that she drinks Michelob Ultra, calling it the "club soda of beers" as she spoke to reporters. Trump has frequently referred to Warren derisively as "Pocahontas" for her longtime claims of having Native American ancestry.

Trump gives new Pentagon chief Shanahan a taste of his world view
Three days later, Trump said he was replacing Mattis with the second-ranking defense official, Pat Shanahan, on New Year's Day. Mattis in making an exit from the Pentagon is press secretary Dana White, who gave no reason for her departure as Mr.

'Do we need blood?' - Klopp defends Salah over dive claims
Asked what he thought of the award of two spot-kicks he added: "It wouldn't change the score, Liverpool deservedly won". I don't know how many positions he's played. "So far the gesture of the season".

Juventus confirm interest in Arsenal midfielder Aaron Ramsey
He has gone on to make 352 appearances, scoring 60 goals along the way, including winners in the 2014 and 2017 FA Cup final. Today he played 15 minutes and scored, he helped us to take the confidence and good result against Fulham, ' said Emery.

Yankees reportedly agree to deal with Troy Tulowitzki
He was limited to just 66 games in 2017 because of the ankle issue and slashed.249/.300/.378 that year. Troy Tulowitzki has bet on himself as a shortstop before - did it in the 2005 draft, in fact.

Russia, Pakistan Should Fight In Afghanistan
He said that Modi was "constantly telling me he built a library in Afghanistan ", reported the Agence France-Presse. Trump asserted that his allies were not contributing enough towards conflicts in Syria, Iraq and Afghanistan.

Democrats retake House of Representatives in US Congress
The rules package needs 218 votes to pass. "I don't think we need to handcuff ourselves in ways that Republicans never have". But with high-profile politicians like Khanna and Ocasio-Cortez signaling their opposition, it may able to happen.

Rep. Jeffries: House Dems Fighting Trump's '$5 Billion Ransom Note'
But in the past, they supported multiple bills that proposed border barriers similar to what Trump has described as acceptable. That number is roughly triple the estimate his own Department of Homeland Security offered several weeks ago.

Chinese spacecraft makes first landing on moon's far side
The lunar explorer Chang'e 4 touched down at 10.26am Beijing time (2.26 GMT) according to China Central Television. The lander should also be able to make some useful observations of deep space, without Earth getting in the way.