Apple cuts Q1 revenue guidance

[Speedy]

https://seekingalpha.com/news/3420157-ap...e-guidance

Apple (NASDAQ:AAPL) cuts its Q1 revenue guidance to $84B (was: $89B to $93B) and expects 38% gross margin and $8.7B in operating expenses.

In a letter to investors, Tim Cook attributes all of the revenue shortfall to lower than anticipated iPhone revenue, particularly in China. Cook blames the macro backdrop and weaker than expected iPhone upgrades.

Apple shares were halted ahead of the news.

Update: Apple shares resume trading at 4:50 PM down 6%.

[NewtonMP2100]

....you beat me to the punch.....Cook admits lower revenues.......they will announce numbers 1/29....


.....Apple almost never comments so the fact that they are.....is not good......

[Cary]

I attribute weak upgrades to the penurious (generally) upgrade offerings across carriers (in the USA, anyway).

[testcase]

Lately (the last couple of years), Apple products are overpriced and underwhelming.........

[Carnos Jax]

Apple has fat margins on their products. They can lower their prices and sell more...which is what they'll eventually do. They'll be back to making mad money and the stock price will resume it's normal journey.

[robfilms]

an interview i saw with tim cook discussed that 20% iphone sales to china have been impacted by the trade wars.

add that to a generally slowing world economy and stock holders get jittery.

ymmv

rob

[Carnos Jax]

Yes, definitely...should have clarified that Apple cutting prices only addresses that aspect of it's stock price decline.

[N-OS X-tasy!]

So Apple stock drops 6%, but Tesla stock plunges 7%?

Things that make you go "hmmm"...

[Carnos Jax]

LOL...I thought Newt was being a bit dramatic there too.

[N-OS X-tasy!]

Carnos Jax wrote:
LOL...I thought Newt was being a bit dramatic there too.

That's not on Newt - the headline for the NYT article she cited uses the word "plunge."